The fund which insures local government infrastructure has asked the Government to help cover any natural disasters over the next few years as it recovers from the Christchurch earthquake.
The Local Authority Protection Programme has built up $232 million over the past 17 years.
Chief executive Tim Sole says that because it is a charity, not an insurance company, the fund can pay all the money it has to cover earthquake damage.
Mr Sole says the fund pays 40% of the cost of repairing underground infrastructure and the Government pays the remaining 60%.
But the fund now has no money to cover future disasters.
Mr Sole says the Government has been asked to cover 90% of any potential damage over the next few years, gradually reducing that amount to 60%.