Source: MIL-OSI Submissions
Source: Insurance Council of NZ
The storm of 16-19 July 2021 that affected large parts of the country led to $140.5 million in insurance pay-outs across to the community covering 5,534 claims. Worst affected areas included Buller and Westland, particularly Westport, as well as parts of the lower North Island, upper South Island and Wellington.
“The importance and value of insurance is powerfully demonstrated during events like this,” said Tim Grafton, Chief Executive of the Insurance Council of New Zealand – Te Kāhui Inihua o Aotearoa. “Insurers can often provide immediate assistance covering emergency repairs, providing cash advances or emergency accommodation depending on the policy.
“As the flood waters recede, insurers stand with the community as together repairs get done and property replaced. Covid, disrupted supply chains and increased costs, often borne by insurers, and shortages of materials and tradies mean this can take longer than in the past, but it’s something the sector is committed to working through with communities.”
The storm left a raft of damage across much of the country, with severe flood damage in Westport, as well as slips and flooding throughout the upper South Island, lower North Island and Wellington.
Combined, there have been 3,939 claims for house and contents, 989 commercial and businesses related claims and 570 claims for motor vehicles.
Breakdown of claims by region
West Coast Upper South Island Wellington North Island Total
Number of claims 1,864 996 1,624 1,032 5,534
Value of claims $97.23 m $17.35 m $17.88 m $8.04 m $140.50 m
“Insurance is an essential service when it comes to disaster response and to helping rebuild communities after the worst happens across Aotearoa. Over the long term, insurance’s is also an essential voice in helping to minimise risk and building resilient communities, especially as the impacts of climate change are becoming more frequent and severe.” said Tim.
Only 2020’s Timaru hailstorm ($170 m), 2004’s lower North Island storm, ($148 m inflation adjusted) and 1984’s Invercargill flood ($147.7 m inflation adjusted), have been more costly extreme weather events for insurers.
Combined weather-related losses for flooding and severe weather, 16-19 July 2021
Claims by type and value Number Value
Domestic 3,939 $111.95m
Commercial Material Damage 945 $19.88m
Business Interruption/Loss of Profits 44 $1.19m
Marine (including Land Transit) 120 $0.15m
Motor Vehicle 570 $5.78m
Other 24 $1.55m
TOTAL 5,534 $140.50m
Buller and Westland
Claims by type and value Number Value
Domestic 1,368 $87.92m
Commercial Material Damage 171 $5.80m
Business Interruption/Loss of Profits 11 $0.08m
Marine (including Land Transit) 2 $0.05m
Motor Vehicle 307 $3.13m
Other 5 $0.24m
TOTAL 1,864 $97.23m
Upper South Island (excluding Buller and Westland)
Claims by type and value Number Value
Domestic 563 $7.79m
Commercial Material Damage 316 $7.12m
Business Interruption/Loss of Profits 13 $0.80m
Marine (including Land Transit) 6 $0.06m
Motor Vehicle 90 $1.39m
Other 8 $0.18m
Total 996 $17.35m
Wellington
Claims by type and value Number Value
Domestic 1,342 $13.73m
Commercial Material Damage 190 $3.09m
Business Interruption/Loss of Profits 10 $0.40m
Marine (including Land Transit) 1 $0.003m
Motor Vehicle 90 $0.76m
Other 9 $0.26m
TOTAL 1,642 $17.88m
North Island (excluding Wellington)
Claims by type and value Number Value
Domestic 666 $2.51m
Commercial Material Damage 268 $3.87m
Business Interruption/Loss of Profits 10 $0.27m
Marine (including Land Transit) 3 $0.03m
Motor Vehicle 83 $0.49m
Other 2 $0.87m
TOTAL 1,032 $8.04m
NB: all figures are for private insured losses and are rounded to two decimal places.
