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NZ new year storm losses pass $31 million

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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.