Provisional Cost of September Storm Over $68 Million

October 23, 2013

Provisional Cost of September Storm Over $68 Million

Provisional cost of insured damaged caused by the storm that hit the country 11-12 September was $68 million, the Insurance Council of New Zealand reported today.

“About 7,000 claims worth over $15 million were settled for home and contents damage. Over $38 million in commercial material damage claims and almost $10 million in motor vehicle claims were settled. There was also $2.5 million in damage to crops and over $1 million paid out for business interruption.” ICNZ Chief Executive Tim Grafton said.

“These are provisional figures at this stage, but they confirm that the cost of storms in 2013 has now reached $157 million so far. The final costs of the June 21-22 storm was $39.3 million, the April 19-22 was $46.2 million and 4-7 May was $2.9 million.”

“New Zealand’s generally high levels of insurance uptake make for a quick economic recovery at times like these, but equally it reinforces our call for adaptation initiatives to build resilience to these kinds of events,” says Mr Grafton.

Data was collected on a nationwide basis, not regional, due to the nature of the storm.

ENDS

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