Final Insured Cost of April 2013 Storms $46.2 Million

September 10, 2013

Final Insured Cost of April 2013 Storms $46.2 Million

The final insured cost of the April 2013 storms that flooded parts of Nelson and the Bay of Plenty have come in at $46.2 million.

The Nelson/Tasman district was the most badly damaged with insured costs mounting to $33.7 million which was about evenly split between residential and businesses.

The Bay of Plenty costs were $11.5 million including $7.3 million damage to residential property. Insured damage in the Waikato came to $1 million.

“Some areas of New Zealand have proved to be particularly susceptible to flooding and there is a risk that with climate change they will become more vulnerable in the future,” said ICNZ Chief Executive Tim Grafton.

“Insurers encourage communities, businesses and local government to plan and adapt in ways that will reduce the impact of natural disasters. This in turn will help keep insurance affordable for all and ensure a rapid recovery after disaster hits,” he said.

ENDS

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