I was embroiled in the aftermath of the 2010-2014 Christchurch earthquakes in New Zealand which offered me a rare opportunity to examine the national policies and effectiveness of Government funding and management of catastrophe on a national scale. My findings are both surprising and disturbing. The slow and confused recovery phase led me to examine the insurance industry, locally and globally. This has revealed a clear pattern of corporate greed at the expense of citizens and has shown that the profit-driven model of private insurance can, and very often does, fail those who have paid-up policies based on “good faith” responses that are their due.
This is not a book about idealistic sociological concepts, but a revelation of actual Government administrative failure and financial risk-taking, in concert with corporate malfeasance. This is a story the wider media chooses not to publicize and consequently few people outside Christchurch are aware of the extent of the ongoing insurance battles. These are the same insurance battles fought by citizens the world over after similar catastrophic events.
The opportunistic behaviour of the insurance companies together with the lack of transparency and integrity within these corporations, is compounded by the failure of corporate watch-dogs, such as government, the legal system and regulators, all of whom have failed to protect the public interest after the recent events. In the background, behind closed doors, are the strategic alliances and the networked relationships between Government, corporates, professionals and other major stakeholders with the object of profit.