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NZ losses mount on storm, flood claims

Insurance losses from storms in Auckland last month have passed $NZ72 million ($65.94 million).

The event cost more than cyclones Gita and Fehi combined, according to the Insurance Council of New Zealand (ICNZ). More than 13,000 claims have been made, with 10,713 for house and contents, and 1810 for commercial.

ICNZ CEO Tim Grafton says insurance losses this year total $NZ173.1 million ($158.54 million), with floods last month still uncalculated.

Last year’s severe weather was the most costly on record, with $NZ243 million ($222.56 million) in insured losses.