Sharechat Logo

Insurers brace as Cyclone Gita looms after 2017's record extreme event claims

Monday 19th February 2018

Text too small?

The threat of ex-tropical Cyclone Gita looming over the lower North Island and parts of the South Island has spurred authorities to put residents and customers on notice, and comes after a record number of extreme event claims were settled last year. 

The Ministry of Civil Defence and Emergency Management is among agencies urging people to prepare for heavy rain and high winds when Cyclone Gita hits land, probably tomorrow or Wednesday. Civil Defence's director Sarah Stuart-Black said in a statement that people should prepare for the possibility of power cuts, water outages and road closures, while Wellington City mayor Justin Lester said commuters should make early decisions about whether to stay home or delay their trip if the ex-cyclone hits the region. 

The Insurance Council has issued similar advice, with chief executive Tim Grafton urging West Coast residents in particular, to take the appropriate precautions given the region's recent storms. 

"The rain will bring surface flooding so it’s important people check their drains and gutters are free of blockages. This can prevent more damaging flooding if rain doesn’t abate quickly,"

Grafton said. "Gita is also forecast to bring strong winds, especially in exposed places." 

Insurers paid out $2.55 billion on extreme event claims last year, across 39,000 claims form the Kaikoura earthquake, 25,500 on weather events around the country, and 2,070 on lingering Canterbury quake claims.

Of that, 9,186 claims totalling $108.7 million were from Cyclones Debbie and Cook last April, which caused the evacuation of Edgcumbe residents and were the most damaging storms since the lower North Island was hit in February 2004. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
NZ dollar drops below US68c on plan to up bank capital
Noel Leeming fined $200,000 for misleading consumers
Big four banks face stiffer capital requirements from RBNZ
Infratil signals A$50m investment in Canberra Data Centres
Govt provides $2.5 mln to develop Opotiki aquaculture
Labour co-ordinator role may alleviate kiwifruit labour shortage
NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap

IRG See IRG research reports