The Insurance Council of New Zealand (ICNZ) has republished and corrected an error on the one-year-on figures it provided for the Edgecumbe floods in March.
In a statement, ICNZ said: “There was a discrepancy in our data which led to incorrect reporting.”
According to the updated statistics, the council received 1,066 claims as a result of the flooding. As of April 2018, 98.5% of the claims had been partially or fully settled.
The bulk of the claims received were for domestic insurance and 98.21% of them have been settled, either in full or in part.
The latest figures also show the total amount paid for 1,050 claims partially or fully settled sits at $62.6 million.
ICNZ said the updated stats address the discrepancy and provide an accurate reflection of the situation in Edgecumbe with regard to private insurance claims. They draw on data provided by its members over the period of March to April 2018.
“ICNZ apologises for the error in reporting and any issues it may have caused,” it added.
