Preliminary estimates indicate Cyclone Gabrielle has caused insured losses of around $NZ890 million ($830 million), the Insurance Council of New Zealand (ICNZ) says.

ICNZ say more than 40,000 claims have been lodged and the industry has so far paid out about $NZ70 million ($65 million).

Combined with the Auckland floods, the industry has paid more than $NZ180 million ($167 million) to policyholders. The two events occurred over the space of a fortnight in the January/February period, making it one of the most perilous summers in New Zealand history.

Home and contents claims totalling around 27,800 worth an initial $NZ453 million ($422 million) have been lodged while business-related claims of more than $NZ350 million ($326 million) are expected.

For damaged and written-off vehicles more than 5000 claims have been received with losses in excess of $NZ73 million ($68 million) expected.

“Insurers are doing all that they can to get assessments completed and to agree next steps with customers,” ICNZ CEO Tm Grafton said.

“In the meantime, insurers have been working hard to activate temporary accommodation benefits for homeowners and renters alike.”