Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


2014 Insured Storm Damage Nears $77 Million

2014 Insured Storm Damage Nears $77 Million


Insured storm damage for the first half of 2014 is almost $77 million, according to the Insurance Council of New Zealand.

ICNZ today announced that the finalised insured cost of damage from the storm that hit Canterbury and the lower North Island on 4-5 March 2014 was $22.5 million, taking the total storm-related insured payouts for the first six months of the year to $76.9 million.

The majority of claims for the 4-5 March storm that caused serious flooding throughout Christchurch was in Canterbury, where insurers settled over 4,000 claims paying out $21.6 million - including $15.2 million in domestic claims and $3 million in commercial material damage for the region.

“Insurers have this year paid out $76.9 million settling more than 15,800 weather-related damage claims which highlights the role insurance plays in responding to claims and helping New Zealanders to get back on their feet after major storms and extreme weather events,” says ICNZ Chief Executive Tim Grafton.

In 2013 more than $174 million was paid out in weather-related damage claims, making it the second most costly year for insured weather losses since the Insurance Council started tracking these losses on a regular basis back in 1968.
2014 Weather-related Event Date $ Million
Easter Weekend Storm and Floods 17-Apr 2014 45.6
Cyclone Lusi 15-16 Mar 2014 4
Canterbury and Lower North Island Storm 4-5 Mar 2014 22.5
Canterbury Storm 23-Feb 2014 4.8
76.9

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news