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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (404581)	1/16/2011 12:25:47 PM
From: Maurice Winn	1 Recommendation Read Replies (3) \| Respond to of 794268

The flooding will be a good thing for Queensland in one way - they'll get an economic boom as the insurers around the world hand over $billions to replace, repair and rebuild. The uninsured won't be so happy. The same thing for Christchurch. While the rest of the country has recession, they'll have economic boom as $billions of insurance payments flood the area. Not only do they get the money, those elsewhere have to pay for the repairs making life even tougher in tough times. It seems perverse than those experiencing the disaster can fare better than those supposedly unaffected. But that's economics. The insurance costs are probably so widely spread that they aren't badly felt, but they will be in some situations where there was heavy insuring by particular companies. The Earthquake and War Damages Commission for example will be short on money after Christchurch so will need to charge more, I guess. eqc.govt.nz Mqurice