The future of insurance seems to be a bit murky, with insurance costs only heading up, meaning more and more people are just not able to afford it.

Australian insurer Suncorp's New Zealand full-year profit fell 30 percent as claims from the floods and cyclone added to rising reinsurance costs and inflation.

Large reinsurance companies have changed their view of how risky New Zealand is, which inevitably means even higher prices for the cover and higher premiums for consumers.

Financial Advice CEO Katrina Shanks joined Mike Hosking to discuss the future and where we may be heading.

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