Early estimate puts Kaikoura Quake insured losses at US$3.5B, with 50%+ in Wellington

Mon, 28 Nov 2016

By Jonathan Underhill Nov. 28 (BusinessDesk) - The insured losses from the Kaikoura earthquake could run to US$3.5 billion, with at least half of that incurred in Wellington and up to 30 percent in Canterbury, according to an early estimate by a US-based catastrophe modelling firm. AIR Worldwide released its estimate, which doesn't include uninsured damage, just days after the Nov. 14 quake, which at magnitude 7.8 was one of the four most powerful to strike New Zealand since 1855. Some 27 buildings in Wellington city are classified as bei...

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