Insurers process claims worth NZD 204 million

Insurers have processed payments worth NZD 203.9 million from Kiwi communities this year across more than 27,000 claims for severe weather events.

The figures, released by the Insurance Council of New Zealand show that insurer support for communities is as essential now as it has ever been.

“Insurers provide a lot of support into local communities in the wake of natural disasters and severe weather events,” said ICNZ Chief Executive, Tim Grafton. “Not only do insurers pay claims, they go into affected communities to help them recover from these events in a concrete, measurable way. They get in there, boots on the ground, and assess damage and risk, liaise with local councils, and speak to community members about their policies and claims processes to help them get back on their feet sooner.”

“It is vital that insurance remains accessible to New Zealanders. That’s why we work closely with local government both during and between these weather events to help them understand the risks their communities face and both adapt to and mitigate those risks,” Grafton said.

“These events are frequent reminders of the impacts climate change are having on our country. By addressing these risks and doing something about them now, we can help keep insurance accessible for the everyday New Zealanders it benefits the most.”

The final figures from Cyclone Fehi, which hit in early-February, show the storm cost a total of NZD45.9 million across 3,750 claims. Cyclone Gita, in late February, cost NZD35.6 million across 4,694 claims. And the 27-29 April storms, which saw severe flooding and a state of emergency declared in Rotorua, have cost NZD16.1 million across 1,475 claims so far.

Cyclone Fehi (final figures)

  Claims Cost NZD
House and contents 2,509 25,392,228
Commercial 714 15,832,060
Marine 14 942,674
Motor 441 2,944,221
Other 72 814,455
TOTAL 3,750 45,925,638

 

Cyclone Gita (final figures)

  Claims Cost NZD
House and contents 2,595 14,557,343
Commercial 1,780 18,858,203
Marine 7 58,630
Motor 257 1,161,088
Other 55 935,232
TOTAL 4,694 35,570,496

 

27-29 April nationwide storm, including Rotorua flooding (provisional)

  Claims Cost NZD
House and contents 1,128 11,365,093
Commercial 209 3,668,072
Marine 4 29,952
Motor 115 756,992
Other 19 267,676
TOTAL 1,475 16,087,785