IAG New Zealand Limited
www.iag.co.nz
20 February 2004
FOR IMMEDIATE RELEASE
MEDIA RELEASE
Largest insurer registers more than 3,500 claims from adverse weather and waives domestic customer excesses
The country’s largest general insurer, IAG New Zealand, now has more than 3,500 separate claims under management as a
result of this week’s severe storms in the lower and central North Island.
The insurer confirmed it expected more claims today after overnight downpours and said it would be waiving standard
domestic excesses for people impacted by the storms.
Chief Executive David Smith was in Palmerston North today surveying damage and meeting customers, local authorities and
MPs.
Mr Smith said the weather continued to stretch resources on the ground for IAG despite more than 50 staff working long
hours to help customers from Wellington through to the Southern Taranaki, including the Wairarapa.
“The challenge from a customer response point of view has been the unusually widespread nature of the deluge. It would
be safe to say we’ve heard from most people already, but getting out to properties has been another story in many
cases,” said Mr Smith.
Mr Smith said many houses remained off limits or underwater due to road closures.
The worst impacted areas for IAG NZ customers were in the Palmerston North and Bulls regions, specifically Tangimoana,
Rongotea and Scotts Ferry where more than 100 residents had been evacuated and property was still off limits for loss
adjusters.
Mr Smith said State customers affected can contact 0800 80 24 24 for help if they haven’t already. NZI customers
impacted should call 0800 800 800.
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About IAG New Zealand
IAG New Zealand Limited is a wholly owned subsidiary of Insurance Australia Group (IAG) Australasia’s largest general
insurer. In New Zealand it trades under the State and NZI insurance brands and underwrites general insurance business
for some of the country’s leading financial institutions. It has approximately 40% share of the general insurance market
and manages 2.5 million policies on behalf of more than 1 million New Zealanders.