NZI has settled a $NZ25 million ($19 million) claim from the operators of Stadium Southland in the southern city of Invercargill, after the stadium’s roof collapsed following a snowstorm on September 18.

The stadium’s management now aims to have the facility up and running again by March 2012.

NZI Acting GM Jo Mason says a “quiet winter” has given way to one of the worst months in the history of NZ’s insurance industry.

“The full costs of Canterbury’s earthquake and the atrocious weather are still unknown,” she told insuranceNEWS.com.au.

“Southland’s snowfall was one of the heaviest Invercargill has seen for 50 years, and the effect of this wreaked havoc on some of Invercargill’s key assets, businesses and homes.”

Ms Mason says the 2000-seat venue was “virtually empty” when the roof collapsed.

“We responded immediately and in conjunction with structural engineers and other experts were able to… accept Stadium Southland’s claim within six days – a record for NZI,” she said.

Remaining parts of the roof over the main court will be demolished and the stadium will be fully rebuilt.