Aotearoa lacks a coherant complete approach to reducing the risk of natural hazards, according to a new report commissioned by on the country's largest insurers. AIG estimates that over the past 15 years the direct cost of natural hazards has been $4.2 billion a year. With 95 percent of that going directly to response and recovery, and just 5 percent to reducing future risk. Tasman mayor Tim King spoke to Lisa Owen.