Skip to main content

Edgecumbe flood almost all mopped up

The Insurance Council is pleased to report this morning that nearly all insurance claims have been partially or fully settled one year on from the Edgecumbe floods.

The banks of the Rangitāiki River burst through a flood bank at Easter in 2017, causing massive flooding and widespread, severe damage to the township of Edgecumbe. One year on from that event, data collected by the Insurance Council shows the recovery has progressed well.

1,080 claims were received as a result of the flooding. At 1 March this year, 98% of them had been partially or fully settled.

“This is a great result,” said ICNZ Chief Executive, Tim Grafton. “The people of Edgecumbe suffered an incredible blow in the Easter flooding last year so to see how much progress has been made in resolving claims is heartening.”

“The bulk of claims received were for houses and contents and 98% of them have been settled, either in full or in part. This shows the commitment of insurers to getting people back on their feet after these sorts of events.”

Full figures for the event are included below:

Claims rec'd

Claims partially/fully settled

%

Total paid ($)

Domestic

809

793

98%

47,718,910.01

Commercial

75

71

95%

4,787,075.35

Marine

162

161

99%

1,533,197.49

Motor

33

33

100%

234,424.86

Other

1

1

100%

42,000.00

Total

1,080

1,059

98%

54,315,607.71

 

 

Published 15 March 2018

Amendment - 23 April


The Insurance Council of New Zealand wishes to correct an error in the one-year-on figures we provided for the Edgecumbe floods in March. There was a discrepancy in our data which led to incorrect reporting.

The update stats included below address this discrepancy and provide an accurate reflection of the situation in Edgecumbe with regard to private insurance claims. They draw on data provided by our members over the period of March to April 2018.

ICNZ apologises for the error in reporting and any issues it may have caused.

Claims rec'd

Claims partially/fully settled

%

Total paid ($)

Domestic

784

770

98.21%

52,196,926.41

Commercial

84

82

97.62%

8,724,732.05

Marine

43

43

100.00%

354,098.00

Motor

148

148

100.00%

1,267,833.79

Other

7

 7

100.00%

74,431.73

Total

1,066

1,050

98.50%

62,618,021.98

 

 

Published 23 April 2018