Port Hills fires cost insurers $17.7 million

Port Hills fires cost insurers $17.7 million | Insurance Business

Port Hills fires cost insurers $17.7 million
The Insurance Council of New Zealand (ICNZ) has reported $17.7 million in insured losses for the wildfires that raged over the Port Hills of Christchurch.

Two separate fires, several kilometres apart, started on February 13 and combined to one large area by February 15.

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Provisional data revealed that insurers have logged 175 claims, with $10.2 million of claims costs for house and contents, $7.3 million related to business insurance, and $165,000 was for motor vehicle loss.

“Events like this just underline the importance insurance plays when disaster strikes,” said ICNZ chief executive Tim Grafton.

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