4 May 2017

Tasman Tempest insured costs $42m

The storm that packed a month of rain into 24 hours has resulted in insured costs of $41.7m the Insurance Council of New Zealand reported today.

The storm dubbed the Tasman Tempest hit Auckland and the Coromandel over 7 to 12 March 2017 with the township of Whangamata being hit the hardest.

Provisional data released today has 5,800 house and contents claims costing $24.5 million, 760 commercial material damage and business interruption losses at $13.4 million and 315 motor vehicle claims costing $2.8 million.

“The three weather bombs we’ve had in recent weeks highlights the importance insurance plays when disaster strikes. We would hope that uninsured renters are now taking steps to ensure their contents are protected to see them through these types of events. And for homeowners that they check their sum insured is enough to rebuild in the event of a total loss” said Insurance Council Chief Executive Tim Grafton.

Also, the 14-17 November 2016 final weather related losses for the lower North Island flooding and wind that immediately followed the Kaikōura earthquake brought 1,389 claims with $9.1 million paid out by private insurers.

Costs for cyclones Debbie and Cook are not yet available.

ENDS

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