News Non-Life05 Feb 2018

New Zealand:Last week's storm estimated to cause multimillion dollar losses

05 Feb 2018

Insurance claims for damage caused by tropical storm Fehi which lashed most of New Zealand last week is expected to run into the millions of dollars, the Insurance Council of New Zealand (ICNZ) says.

ICNZ chief executive Tim Grafton said that it was difficult to say exactly how many claims would be made because the damage was not confined to any one area, but it would be "substantial", running into multimillions of dollars over the next few days, reported stuff.co.nz.

"We won't have a clear estimate for the dollar value of claims for weeks out. Our priority now is to urge those affected to lodge claims with their insurance providers as soon as possible," he said.

New Zealand has been ranked at a "high hazard" level for flooding and cyclone events by the Global Facility for Disaster Reduction and Recovery.


 

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