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

 

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news