NZ new year storm losses pass $31 million
Insurance losses from New Zealand storms in early January have reached $NZ34.2 million ($31.48 million).
The Insurance Council of New Zealand (ICNZ) says 4268 claims were made with private insurers. The last claims estimate was $NZ26.7 million ($25 million).
The Coromandel and Bay of Plenty regions suffered heavy flooding, and the towns of Thames and Kaiaua were badly damaged.
Some 3086 domestic claims were placed with insurers, costing $NZ19.12 million ($17.64 million), and 685 commercial claims totalling $NZ11.71 million ($10.8 million).
CEO Tim Grafton has renewed ICNZ’s call for better climate change adaptation in New Zealand.