Category: Media Releases

Insurers welcome next step in climate disaster recovery

The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) welcomes the next step in the recovery from the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle.  ICNZ acknowledges this will provide certainty for many customers, but some customers will not have all the information they need to make …

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$395.3 million of $2.47 bn of 2023 climate claims settled

Note – this is corrected version of the original which overstated the number of claims settled. Combined claims for the Auckland Anniversary Weekend flooding and Cyclone Gabrielle now stand at 96,586 claims worth $2.47 billion. Insurers have so far paid out over 14,124, 15%, of claims. On 1 April, insurers had put $395 million back …

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Global insurance gap report highlights local issues

A new report from the Global Federation of Insurance Associations (GFIA) has identified and quantified the most significant, and growing, annual global insurance protection gaps, two of which are of particular concern for Aotearoa New Zealand in the area of general insurance. The report, Global Protection Gaps and Recommendations for Bridging Them, highlights global shortfalls …

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Insurers’ support for the weather bombs $111 million to date

Provisional general insurance claims data for the Auckland Anniversary Weekend flood event have been released by the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ). “While it is still early days, around $111 million of insurance support has already been paid into communities as part of what will be a long recovery”, …

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Insurers welcome New Zealand Claims Resolution Service

Insurers welcome the announcement of the New Zealand Claims Resolution Service (NZCRS) for property owners with house insurance as part of the response to natural disasters including the growing number of climate-driven extreme weather events that are leading to an unprecedented number of insurance claims.                  “People must still make their insurer their first point of …

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