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Christchurch fires cost insurers $16 million

Fires that caused more than 1000 people to be evacuated near Christchurch earlier this year have cost insurers $NZ17.7 million ($16.4 million) from 175 claims.

Provisional data shows $NZ10.2 million ($9.5 million) was paid for 130 house and contents claims, the Insurance Council of New Zealand (ICNZ) says.

Commercial material damage, business interruption and loss of profit claims cost $NZ7.3 million ($6.8 million), and $NZ165,000 ($153,245) was paid for vehicle losses.

The February bushfires swept over the Port Hills, between Christchurch city centre and nearby Lyttelton port, destroying a number of homes and more than 1800 hectares.

Two separate fires started several kilometres apart before combining, with a state of emergency declared.

“Events like this just underline the importance of insurance when disaster strikes,” ICNZ CEO Tim Grafton said.