Insurers pay out more than $2 billion in twin disaster claims

(Image: Getty)

Fri, 15 Sep 2023

Insurers have so far paid out more than $2 billion for the twin hit caused by the Auckland anniversary floods and Cyclone Gabrielle.As of Sept 1, there have been 112,812 insurance claims of $3.5b for the two climate disasters, according to Insurance Council of NZ (ICNZ) figures. The ICNZ said insurers had needed to deal with more than a year’s worth of claims by value, which had arisen over the space of around 15 days earlier in the year. The estimated value of claims made in Auckland for both weather events is now $2.017b. Hawk...

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