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Final July And August Extreme Weather Claims Top $123m

Final claims data released today by the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) show that extreme weather-related claims spanning five events across July and August has reached 11,086 claims valued at $123.8 million. This is an increase of 35% or $32.1 million on provisional reporting for these climate-related events.

"We are used to reporting separately on discrete climate related events, but this is an example of something different", said ICNZ Chief Executive, Tim Grafton. "Wave after wave of extreme wet weather led to weeks of local flooding and slips during what NIWA has declared as Aotearoa New Zealand’s warmest and wettest winter on record [1] . This is certainly reflected in the damage and disruption across the motu."

  • EventDate(Provisional)FinalClaims
  • New Zealand weather11-13 July($15.38 m)$18.21 m 2,914
  • South Island weather17-21 July($16.1 m)$20.56 m 2,274
  • New Zealand weather24-27 July($15.38 m)$18.21 m 2,228
  • Nelson Tasman floods18-21 August($21.63 m)$31.14 m 1,575
  • Rest of New Zealand18-21 August($26.34 m)$36.7 m 2,095
  • Totals ($91.67 m)$123.78 m11,086

"There is a clear pattern here of repeat bands of extreme rain saturating the ground making it more prone to slips, flooding and resultant infrastructure damage, including to roads," added Tim. "As the long-term warming trend continues, we can expect this to keep happening.

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"We want central and local government to work with communities to invest in resilience. If risks are not reduced, then the trauma of these events, the risk to lives, disruption to local business and damage to the environment, economy and communities will keep getting worse."

The running total for extreme weather events for 2022 currently stands at $335.58 million, a new record. The cost of claims for November’s extreme weather events will be reported in the New Year. The figures above are just for general insurance. They do not include the cost of claims met by Toka Tū Ake EQC, by local government for running emergency and clean-up operations nor for road repairs.

Notes to Editors

ICNZ data collection process

1. Once an event has concluded, ICNZ issues a notice to its members to record data for it.

2. Provisional data are available around four weeks after the event after policy holders have lodged claims and initial assessments have been made.

3. Final numbers are reported after around three months once the cost of claims is known.

4. While ICNZ members manage EQCover claims on behalf of Toka Tū Ake EQC. The cost of EQCovr claims is not included in ICNZ data.

WEATHER-RELATED LOSSES - Final Figures

New Zealand weather 11-13 July 2022

Line Number of Claims Total $ Amount

Domestic 2,315 12,379,046

Commercial Material Damage 359 3,702,461

Business Interruption/Loss of Profits 9 254,935

Marine (including Land Transit) 1 3,523

Trailercraft 0 nil

Moored craft 3 107,501

Motor Vehicle 206 1,355,807 Crops 0 nil

Other 21 410,631

TOTAL 2,914 18,213,904

WEATHER-RELATED LOSSES - Final Figures

South Island weather 17-21 July 2022

Line Number of Claims Total $ Amount

Domestic 1,522 8,476,052

Commercial Material Damage 378 7,340,484

Business Interruption/Loss of Profits 4 782,370

Marine (including Land Transit) 0 nil

Trailercraft 1 1,966

Moored craft 1 423

Motor Vehicle 350 2,074,974 Crops 0 nil

Other 18 1,885,034

TOTAL 2,274 20,561,303

WEATHER-RELATED LOSSES - Final Figures

New Zealand weather 24-27 July 2022

Line Number of Claims Total $ Amount

Domestic 1,728 10,357,875

Commercial Material Damage 315 5,082,410

Business Interruption/Loss of Profits 8 46,309

Marine (including Land Transit) 3 66,351

Trailercraft 0 nil

Moored craft 1 3,639

Motor Vehicle 151 1,049,044 Crops 0 nil

Other 22 571,610

TOTAL 2,228 17,177,238

WEATHER-RELATED LOSSES - Final Figures

Nelson - Tasman floods and slips 18 - 21 August 2022

Line Number of Claims Total $ Amount

Domestic 1,274 20,759,513

Commercial Material Damage 189 7,208,029

Business Interruption/Loss of Profits 35 1,148,618

Marine (including Land Transit) 1 1,447

Trailercraft 0 nil

Moored craft 1 345

Motor Vehicle 61 489,669 Crops 0 nil

Other 14 1,536,113

TOTAL 1,575 31,143,734

WEATHER-RELATED LOSSES - Final Figures

Rest of Aotearoa New Zealand 18 - 21 August 2022

Line Number of Claims Total $ Amount

Domestic 1,639 28,480,635

Commercial Material Damage 315 4,923,724

Business Interruption/Loss of Profits 17 1,786,699

Marine (including Land Transit) 3 13,124

Trailercraft 0 nil

Moored craft 3 75,234

Motor Vehicle 94 531,876 Crops 0 nil

Other 24 893,184

TOTAL 2,095 36, 704,476

[1] https://niwa.co.nz/news/nzs-warmest-and-wettest-winter-on-record#:~:text=After%20carefully%20poring%20through%20more,warmest%20and%20wettest%20on%20record.

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