Wild weather in 2013 causes highest insurance costs in nine years

Tue, 28 Jan 2014

By Suze Metherell Jan. 28 (BusinessDesk) – Damage from wild weather last year cost over $174 million in insured weather-related damages, making it the second most expensive year on record according to the Insurance Council of New Zealand. September’s nationwide storm was the year’s biggest cause of damages, and the third most expensive storm in the past 45 years, causing $74.5 million of insured losses, the council said. Commercial property damages made up the bulk of the losses, costing $42 million and a further $3.1 million payment for busi...

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