Source: MIL-OSI Submissions
Source: Insurance Council of NZ
Preliminary figures for the 16-19 July storm, that saw a rare red weather warning issued by Metservice, has seen 5,207 claims made to date with insurers supporting their customers with at least $122m for insured losses.
The storm left a raft of damage across much of the country, with sever flood damage in Westport, as well as slips and flooding through the upper South Island, Wellington and North Island. Combined there have been 3,790 claims for house and contents, 795 commercial and businesses related claims and 590 claims for motor vehicles.
Tim Grafton, CE Insurance Council of New Zealand – Te Kāhui Inihua o Aotearoa, says the preliminary figures reflect the damage severe weather and flooding can leave behind.
“The value of insurance is powerfully demonstrated with the support provided to Westport customers, where we have seen insurers meet over $85million of losses in a town with a population of about 4,000.
“Insurance has never been more important. This year severe weather has affected many of our communities, with the impacts of climate change being felt by many, with severe weather becoming more frequent and more severe.”
During New Zealand’s recent lockdown, insurers have continued to progress existing claims for affected customers where restrictions have allowed, engaging with those awaiting repairs to be completed to ensure clear expectations are outlined for the remaining work.
ICNZ notes that the sector has noticed the knock-on effect of a very active pre-lockdown building market alongside ongoing COVID-19 related impacts. In some cases, members have reported difficulties in securing specific trades or sub-contractors, or there has been a delay or longer lead time for certain building materials or household items. In Westport itself the recovery is also affected by a shortage of accommodation for tradies coming into the region to carry out work.
“These aspects are completely out of insurers hands, but they are doing all they can to support their customers affected by delays or the impacts of COVID-19 on supply chains that may mean a longer recovery for some.”