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Tasman Tempest costs jump to $58 million

Insured costs from the so-called Tasman Tempest, which hit New Zealand in March, have risen to $NZ61.7 million ($57.9 million), according to final data.

The storm packed a month’s rain into 24 hours as it swept across Auckland and the Coromandel area, with the township of Whangamata hardest hit.

The Insurance Council of New Zealand (ICNZ) says 7774 claims have been received, up from provisional May figures that put the cost at $NZ41.7 million ($39.2 million) from 7035 claims.

The updated figure brings natural hazard event losses for the year so far to $NZ174.7 million ($164.1 million).

“The weather bombs we’ve had in recent months highlights the importance insurance plays when disaster strikes,” ICNZ CEO Tim Grafton said.

“We would hope uninsured renters are now taking steps to ensure their contents are protected to see them through these types of events. And for homeowners, that they check their sum insured is enough to rebuild in the event of a total loss.”

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