The cost of insurance could spike 20 percent as a result of the Government bailout of AMI Insurance and the mounting cost of the Canterbury earthquakes.
Consumer New Zealand chief executive Sue Chetwin said most insurance premiums rose more than 10 percent last year as insurers tried to recover the cost of the September earthquake.
She expected more rises in the next few months as the total value of claims from February's more damaging quake became clear.
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