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


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news