Insured damage for June storm in New Zealand estimated at NZ$30 million

The provisional cost of insured damage from the June 9-11 storm in New Zealand is NZ$30 million, pushing the tally of insured damage from severe weather events so far in 2014 to NZ$107 million, the Insurance Council of New Zealand (ICNZ) reports.

The June storm – which hit much of the Auckland region, East Coast of the North Island – brought down trees and power lines, cutting power to more than 80,000 residents, and caused surface flooding as far south as Marlborough and Canterbury, ICNZ notes in a statement issued Tuesday.

“At the same point last year, insurers had paid out NZ$103 million for insured damage from severe weather events, and 2013 was the second costliest year for weather-related damage since 1968 with over NZ$174 million of insured costs,” ICNZ chief executive Tim Grafton says in the statement.

The council reports that insurers paid out NZ$18 million for more than 6,000 domestic claims and NZ$9.5 million in commercial material damage claims from the June storm. Approximately NZ$1.1 million was paid out in motor vehicle claims and NZ$758,000 in marine-related claims, ICNZ adds.

Another storm hit the Nelson and Tasman region on June 25, Grafton notes, but adds that ICNZ is awaiting provisional figures for that event as well as the July 8-11 storm that caused severe flooding in Northland.

“But 2014 looks likely to be another costly year for New Zealand from severe weather events, which underscores the very real benefit that insurance affords,” Grafton emphasizes.