September 20, 2021

SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

Insurance response to July severe weather through Westport

Share This :
, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs
, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc Blogs

Insurance response to July severe weather through Westport
and NZ reaches $122m

Preliminary figures for the 16-19
July storm, that saw a rare red weather warning issued by
Metservice, has seen 5,207 claims made to date with insurers
supporting their customers with at least $122m for insured
losses.

The storm left a raft of damage across much of the
country, with sever flood damage in Westport, as well as
slips and flooding through the upper South Island,
Wellington and North Island. Combined there have been 3,790
claims for house and contents, 795 commercial and businesses
related claims and 590 claims for motor vehicles.

Tim
Grafton, CE Insurance Council of New Zealand – Te Kāhui
Inihua o Aotearoa, says the preliminary figures reflect the
damage severe weather and flooding can leave behind.

“The
value of insurance is powerfully demonstrated with the
support provided to Westport customers, where we have seen
insurers meet over $85million of losses in a town with a
population of about 4,000.

“Insurance has never been more
important. This year severe weather has affected many of our
communities, with the impacts of climate change being felt
by many, with severe weather becoming more frequent and more
severe.”

During New Zealand’s recent lockdown, insurers
have continued to progress existing claims for affected
customers where restrictions have allowed, engaging with
those awaiting repairs to be completed to ensure clear
expectations are outlined for the remaining work.

ICNZ
notes that the sector has noticed the knock-on effect of a
very active pre-lockdown building market alongside ongoing
COVID-19 related impacts. In some cases, members have
reported difficulties in securing specific trades or
sub-contractors, or there has been a delay or longer lead
time for certain building materials or household items. In
Westport itself the recovery is also affected by a shortage
of accommodation for tradies coming into the region to carry
out work.

“These aspects are completely out of insurers
hands, but they are doing all they can to support their
customers affected by delays or the impacts of COVID-19 on
supply chains that may mean a longer recovery for some.”

A
break down of the preliminary loss figures by region is
included in the attached PDF.

https://img.scoop.co.nz/media/pdfs/2109/FINAL_Preliminary_cost_of_July_severe_weather_through_Westport_and_NZ_07092021.pdf

© Scoop Media

Share This :