New Zealand insurers are waiving policy terrorism exclusions for claims arising from last week’s attack on two Christchurch mosques as the nation considers repercussions from the shocking event that resulted in 50 deaths.

Insurers have expressed support for the community following the country’s first terrorism-related shooting, which also left others in critical condition in intensive care.

“Our thoughts are with the Muslim community and wider Christchurch community after Friday’s unfathomable terrorist attack,” IAG NZ CEO Craig Olsen said.

“IAG will not apply terrorism exclusions for our customers with an insurance claim relating to Friday’s attack. We’re doing this because it’s the right thing to do in these circumstances; we’re here to support our customers and community.”

IAG says it continues to review its policies and is working closely with the Government and the New Zealand Red Cross to make sure it’s providing support.

AA Insurance, a joint venture between Suncorp and the New Zealand Automobile Association, says it has received a small number of calls from customers who can’t access their vehicles due to the police cordon. They have been unable to say if the vehicles are damaged, but will be supplied with a rental car regardless.

“While our policies exclude acts of terrorism, AA Insurance will be providing cover for claims made following the attack in Christchurch on Friday,” CEO Chris Curtin told insuranceNEWS.com.au.

“AA Insurance will continue to review all of our policy exclusions, however our terrorism clause is an international reinsurer requirement pertaining to catastrophe cover. At this stage our priority is looking after our customers and staff who have been affected at this terrible time.”

New Zealand media reported that Tower had also confirmed that it would not use terrorism clauses to refuse claims for damage caused during the shootings.

Prime Minister Jacinda Ardern says gun laws will change, an inquiry will look into the events that led up to the attack and the role social media played will also come under scrutiny.

“The terror attack in Christchurch on Friday was the worst act of terrorism on our shores,” she said. “It was in fact one of the worst globally in recent times.”

Insurance Council of New Zealand CEO Tim Grafton says terrorism reinsurance pools, such as those in the UK and Australia, may come up for discussion as other issues are later considered.

“What has happened now turns the mind to the very real risks that are out there and how they would be responded to given the standard exclusion that exists around acts of war and terrorism,” he told insuranceNEWS.com.au.

“There are some fundamental questions that are likely to be raised by the Government as it contemplates the issues that need to be addressed in future.”

The Australian Reinsurance Pool Corporation was established to ensure terrorism cover remained available after the September 11 attacks in the US caused commercial reinsurers to withdraw from the global market.

A similar arrangement does not exist in New Zealand, which would leave the Government to respond to large-scale incidents where insurance exclusions are applied.