Big claims expected as NZ counts storms cost
A series of severe storms that swept New Zealand last week have caused damage expected to cost insurers more than $NZ50 million ($39 million).
A deluge of wind and rain cut road and rail links and knocked out utilities and telecommunications in several parts of the country.
Insurance Council of New Zealand CEO Chris Ryan says insurance claims could top $NZ50 million.
IAG-owned State Insurance says it has already taken 200 claims following the storms and expects 70% more claims inquiries than normal.
On Friday residents in the South Island town of Picton, as well as the Bay of Plenty in the North Island and Auckland’s North Shore were waiting to return to homes inundated by mud and water.
A deluge of wind and rain cut road and rail links and knocked out utilities and telecommunications in several parts of the country.
Insurance Council of New Zealand CEO Chris Ryan says insurance claims could top $NZ50 million.
IAG-owned State Insurance says it has already taken 200 claims following the storms and expects 70% more claims inquiries than normal.
On Friday residents in the South Island town of Picton, as well as the Bay of Plenty in the North Island and Auckland’s North Shore were waiting to return to homes inundated by mud and water.