New Zealand insurer Tower says it is in the early stages of assessing the financial impact from severe flooding that hit the West Coast, Wellington, Marlborough and Auckland regions.

The insurer had received 142 claims as of Thursday, with more expected to be lodged. Assessors were on the ground from last Monday providing practical support and advice.

“As the financial impact of previous large events over the years has reached $NZ14 million ($13.2 million), being Tower’s excess for its aggregate reinsurance program, this event will be covered by reinsurance for up to $NZ7.5 million ($7.1 million),” it said.

Parts of the West Coast and Marlborough areas received rainfall of 400mm in 24 hours after the MetService declared a red warning for the region, with subsequent flooding particularly affecting the town of Westport.