January storms cost insurers $38.5 mln, more claims to come

Tue, 20 Mar 2018

By Sophie Boot March 21 (BusinessDesk) - Ex-cyclone Fehi has cost insurers $38.5 million so far, with that expected to rise and the cost of other extreme weather not yet quantified, the Insurance Council said. In late January, the storm slammed most of the country and led authorities to declare a state of emergency and ask people to avoid travelling by road in some parts of the South Island. Later that month, ex-cyclone Gita brought more rain, causing heavy flooding in some areas. The Insurance Council said there had been about 3,300 c...

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