Flood and cyclone insurance claims top $1 billion

Flood and cyclone insurance claims top $1 billion
The cost of extreme weather damage is mounting. (Image: Getty)
Pattrick Smellie
Insurance claims and payments relating to Cyclone Gabrielle and the Auckland anniversary weekend floods have topped $1 billion, with Hawke’s Bay cyclone claims closing in on $500 million.The Insurance Council of New Zealand this morning released its latest statistics for the recent severe weather events, saying it had now received 40,275 claims relating to Cyclone Gabrielle, totalling $889.8m so far.“On a regional basis for Cyclone Gabrielle, most claims, over 13,000, have been recorded in Hawke’s Bay across all general insura...

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