The Chief Executive of The Insurance Council of New Zealand, Te Kāhui Inihua o Aotearoa (ICNZ), Tim Grafton, will step down from the role next year. After almost 12 years of service to ICNZ, he has signalled his desire to explore new opportunities following the organisation’s AGM in April 2024. ICNZ’s President Toni Ferrier said …
Act now to protect yourselves and your property as a band of weather brings high winds and heavy rains, and in some places snow, up Te Waipounamu/the South Island and into Te Ika-a-Māui/the North Island as we go into the weekend. As usual, Metservice is doing a great job of issuing warnings and updating those …
Insurers have so far paid out $2.053 bn of a newly updated estimate of the cost of general insurance claims for the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle of $3.5bn across 112,812 claims. “Good progress continues to be made on settling claims, especially when compared to prior large-scale disasters, …
The Insurance Council of New Zealand – Te Kāhui Inihua o Aotearoa (ICNZ) and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) are proud to announce The ICNZ Scholarship is now open for submissions. The ICNZ and ANZIIF Scholarship is an annual scholarship that aims to recognise outstanding insurance professionals who demonstrate …
The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) urges those affected by floods and storms across Tairāwhiti and Hawke’s Bay to put their safety first, heed the advice of local authorities, including to self evacuate as per the State of Emergency declaration in Tairawhiti, and contact their insurer early if their …
Flood advice: stay safe and contact your insurer early Read More »
Insurers have so far paid out $1.08 bn of an estimated $3.18 bn over 107,569 claims arising from the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle. For context, the general insurance sector incurred total claims of $3.08 bn in 2022 while claims for 2016’s Kaikoura earthquake totalled $2.27 bn. “While …
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 …
Insurers welcome next step in climate disaster recovery Read More »
The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) urges those affected by floods and storms across Tāmaki Makaurau Auckland and other areas of Te Ika-a-Māui The North Island to put their safety first, heed the advice of local authorities and contact their insurer early. “Contact your insurer early if you suffer …
Flood advice: stay safe and contact your insurer early Read More »
A new record was set in 2022 for climate-related extreme weather general insurance claims at $351.22 million. “While this new record has already been smashed by the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle, they should not though detract from the clear pattern of rising climate claims in what …
2022 confirmed as record year for climate claims Read More »
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 …
$395.3 million of $2.47 bn of 2023 climate claims settled Read More »
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