NZ’s largest insurer has revealed that it forks out $14 million a year for methamphetamine claims at residential properties.
The majority of the claims in tenanted properties were for meth use, said Ralph Hart, personal lines underwriting solutions manager at IAG
“IAG meth claims tally about $14 million per year,” for all types of residential properties, “with claim numbers varying from 40 to 80 each month,” Hart told New Zealand Herald.
“The majority of claims relate to meth use. Claims are generally spread geographically in line with population and the pattern of these claims is still not clear but average claim cost for meth contamination is approximately $20,000,” Hart said.
IAG noted that NZ is currently developing a new meth standard for cleaning up properties where meth had been used and for meth lab homes.
A Ministry of Health report recommended a level of 0.5 micrograms for lab homes, 1.5 micrograms for carpeted homes, and two micrograms for non-carpeted homes, the insurer said.
“At larger quantities, methamphetamine is hazardous, and its manufacture dangerous,” it said. “In homes where the drug has been cooked, methamphetamine residue is the ‘canary in the cage’ warning for the presence of other toxins, such as solvents and heavy metals.”