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Final July and August extreme weather claims top $123 million

15 Dec 2022

PHOTO: Raychel Sanner on Unsplash

 

Media release | Final claims data released by the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) show that extreme weather-related claims spanning five events across July and August has reached 11,086 claims valued at $123.8 million.

This is an increase of 35% or $32.1 million on provisional reporting for these climate-related events.


"We are used to reporting separately on discrete climate related events, but this is an example of something different", said ICNZ Chief Executive, Tim Grafton. "Wave after wave of extreme wet weather led to weeks of local flooding and slips during what NIWA has declared as Aotearoa New Zealand’s warmest and wettest winter on record. This is certainly reflected in the damage and disruption across the motu."


"There is a clear pattern here of repeat bands of extreme rain saturating the ground making it more prone to slips, flooding and resultant infrastructure damage, including to roads," added Grafton. "As the long-term warming trend continues, we can expect this to keep happening.


"We want central and local government to work with communities to invest in resilience. If risks are not reduced, then the trauma of these events, the risk to lives, disruption to local business and damage to the environment, economy and communities will keep getting worse."

 

Event Date (Provisional) Final Claims:

 New Zealand weather 11-13 July ($15.38 m) $18.21 m 2,914

South Island weather 17-21 July ($16.1 m) $20.56 m 2,274

New Zealand weather 24-27 July ($15.38 m) $18.21 m 2,228

Nelson Tasman floods 18-21 August ($21.63 m) $31.14 m 1,575

Rest of New Zealand 18-21 August ($26.34 m) $36.7 m 2,095

Totals ($91.67 m) $123.78 m 11,086

 

The running total for extreme weather events for 2022 currently stands at $335.58 million, a new record. The cost of claims for November’s extreme weather events will be reported in the New Year. The figures above are just for general insurance. They do not include the cost of claims met by Toka Tū Ake EQC, by local government for running emergency and clean-up operations nor for road repairs.


Related Topics:   Greenhouse Effect

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