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Insurers provide $204 million of support to Kiwi communities

Insurers have provided $203.9 million of support to Kiwi communities this year across more than 27,000 claims for severe weather events.

The figures, released by the Insurance Council today, show that insurer support for communities is as essential now as it has ever been.

“Insurers provide a lot of support into local communities in the wake of natural disasters and severe weather events,” said ICNZ Chief Executive, Tim Grafton. “Not only do insurers pay claims, they go into affected communities to help them recover from these events in a concrete, measurable way. They get in there, boots on the ground, and assess damage and risk, liaise with local councils, and speak to community members about their policies and claims processes to help them get back on their feet sooner.”

“It is vital that insurance remains accessible to New Zealanders. That’s why we work closely with local government both during and between these weather events to help them understand the risks their communities face and both adapt to and mitigate those risks,” Grafton said. “These events are frequent reminders of the impacts climate change are having on our country. By addressing these risks and doing something about them now, we can help keep insurance accessible for the everyday New Zealanders it benefits the most." 

The final figures from Cyclone Fehi, which hit in early-February, show the storm cost a total of $45.9 million across 3,750 claims. Cyclone Gita, in late February, cost $35.6 million across 4,694 claims. And the 27-29 April storms, which saw severe flooding and a state of emergency declared in Rotorua, have cost $16.1 million across 1,475 claims so far.

 

Cyclone Fehi (final figures)

 

Claims

Cost $

House and contents

2,509

25,392,228

Commercial

714

15,832,060

Marine

14

942,674

Motor

441

2,944,221

Other

72

814,455

TOTAL

3,750

45,925,638

 

Cyclone Gita (final figures)

 

Claims

Cost $

House and contents

2,595

14,557,343

Commercial

1,780

18,858,203

Marine

7

58,630

Motor

257

1,161,088

Other

55

935,232

TOTAL

4,694

35,570,496

 

27-29 April nationwide storm, including Rotorua flooding (provisional)

 

Claims

Cost $

House and contents

1,128

11,365,093

Commercial

209

3,668,072

Marine

4

29,952

Motor

115

756,992

Other

19

267,676

TOTAL

1,475

16,087,785