Extensive flooding on the lower North Island and the west coast of the South Island in June cost insurers $NZ50 million ($46.59 million), bringing the year’s disaster total to $NZ113 million ($105.3 million), according to the Insurance Council of New Zealand (ICNZ).

CEO Tim Grafton says provisional figures put the North Island damage at $NZ41.5 million ($38.67 million) and the South Island at $NZ8.4 million ($7.83 million).  

Flooding in Wanganui and other North Island areas resulted in 1700 domestic claims for more than $NZ25 million ($23.2 million).

Some 600 commercial and business interruption claims cost insurers more than $NZ14 million ($13.05 million). The remainder of claims were largely for motor vehicles, costing about $NZ1 million ($930,000). 

In response to the economy’s vulnerability to natural disasters, ICNZ has created a 15-point “protection plan”.

Its research shows 64% of New Zealanders believe central and local governments must plan and increase funding for disaster mitigation.

Mr Grafton says the research also shows 71% of Kiwis think New Zealand is not well prepared to minimise economic and social costs of natural hazards.

“We are encouraged by the commitment the Government made to the Sendai accord on disaster risk reduction earlier this year, as well as Local Government New Zealand’s focus on risk management,” Mr Grafton said.