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NZ ‘weather bomb’ pushes bill towards $89 million

Extensive flooding in June cost insurers more than $NZ44 million ($39.13 million), the Insurance Council of New Zealand (ICNZ) says.

It takes total weather-related losses in the country close to $NZ100 million ($89.05 million) for the year so far.

The June “weather bomb” caused $NZ36.8 million ($32.77 million) of insured damage in the lower North Island and $NZ7.5 million ($6.68 million) on the west coast of the South Island.

Final claims figures will be known in early October, but ICNZ CEO Tim Grafton says insurers have received more than 1600 domestic claims from the North Island.

About 600 commercial and business interruption claims have cost more than $NZ11 million ($9.8 million).