The Insurance Council of NZ reports that insurers have paid out $1.08 billion in claims, out of an estimated $3.18 billion in total claims from the twin disasters of Auckland Anniversary Weekend floods and Cyclone Gabrielle.

$479.2 million has been paid out so far related to the cyclone, representing 18,673 claims settled.

Of the 52,136 claims received to date related to Cyclone Gabrielle, 17,407 have been received from Hawke’s Bay and those have a value of $979.8 million.

Tairawhiti has 2,379 claims valued at $75.8 million.

As we know well here locally, the categorisation process is far from over, as Category 2 and 3 properties (as designated by desktop analysis) are now being individually examined ‘at ground level’ by council staffs.

Insurance Council’s chief executive Tim Grafton comments: “There is much yet to be done. For some customers there is a long road ahead while they work through the categorisation process with their council. Insurers are committed to standing by their customers until all claims are settled.” 

For context, the general insurance sector incurred total claims of $3.08 bn in 2022, while claims for 2016’s Kaikoura earthquake totalled $2.27 bn.

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