The two cyclones that pounded New Zealand during April and caused residents of Edgecumbe to be evacuated have resulted in insured costs of $84 million the Insurance Council of New Zealand reported today. The tail end of Cyclone Debbie which passed over New Zealand between 3 and 7 April cost insurers $66.4 million followed closely …
Major increases in taxes and levies on people who insure their homes could see low income households not able to protect themselves from disasters the Insurance Council of New Zealand said today. “By the end of this year households will see the levies and taxes on people who insure themselves sky rocket. From 1 July …
The storm that packed a month of rain into 24 hours has resulted in insured costs of $41.7m the Insurance Council of New Zealand reported today. The storm dubbed the Tasman Tempest hit Auckland and the Coromandel over 7 to 12 March 2017 with the township of Whangamata being hit the hardest. Provisional data released …
A new partnership has been set up to help some of the most financially vulnerable people cope when misfortune strikes. The Commission for Financial Capability is linking up with the Insurance Council of New Zealand to develop and run a programme for people in M?ori and Pasifika communities. The aim is to give those communities …
The wildfires that swept over the Port Hills of Christchurch in February has cost insurers $17.7 million dollars, the Insurance Council of New Zealand reported today. Two separate fires, several kilometres apart, started on 13 February and by 15 February the fires had combined to one large area. Provisional data released today show that $10.2m …
With up to 300mm expected to hit Bay of Plenty in the 72 hours from midday Wednesday, on an already saturated region, the Insurance Council of NZ is urging people in the region and throughout the country to be prepared for flooding. “We want to help communities to reduce the risks they face. If you …
INSURANCE ADVISORY: EASTER HEAVY RAIN EXPECTED FOR BOP Read More »
The Insurance Council of New Zealand advise people who have uninhabitable homes due to flood damage to contact their insurer directly for help with temporary accommodation. Most home policies as well as contents policies provide cover for temporary accommodation. Each policy wording will differ so people should check with their insurer. Tim Grafton, Insurance Council …
EDGECUMBE INSURANCE ADVISORY: TEMPORARY ACCOMMODATION Read More »
With more heavy rain expected today and tomorrow as a result of the remnants of Cyclone Debbie, the Insurance Council of NZ is urging people in the North Island to be prepared for flooding. “We want to help communities to reduce the risks they face. If you can get as much of your home contents …
RISK REDUCTION INSURANCE ADVISORY: NORTH ISLAND HEAVY RAIN Read More »
The Insurance Council of New Zealand welcomes the review of the legislation that regulates insurers that was announced today. The Reserve Bank of New Zealand is the prudential supervisor of insurers in New Zealand and operates under the Insurance Prudential Supervision Act (IPSA) with the purpose of promoting a sound and efficient sector and promoting …
Private insurers plan to have made the majority of cash settlement offers by the end of the year for all commercial and residential claims. The 14 November earthquake was not only the most complex of its type, but gave rise to one of the most expensive insured events anywhere in the world in 2016. In …
MAJORITY OF NOVEMBER 2016 EARTHQUAKE CLAIMS TO BE COMPLETE BY YEAR END Read More »
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