Revealed: Insurance cost of South Island storm

It is the most significant number for business losses and business interruption

Revealed: Insurance cost of South Island storm

Insurance News

By Roxanne Libatique

The devastating storm in December 2019 hit not only homeowners but also businesses in South Island – costing insurers $17 million.

The storm, which wreaked havoc on December 07 and 08, damaged roads, bridges, and other properties – putting South Canterbury under a state of emergency. Queenstown and Wanaka also experienced flooding from December 03-12, with many businesses reported to have used sandbags to protect themselves while others were forced to close down.

The Insurance Council of New Zealand (ICNZ) confirmed that 1,700 claims totalling $17 million were made following the storm, the most significant number for business losses and business interruption.

Westland District Council Mayor Bruce Smith said they have started repairing the roads, but they might not be able to finish until next year.

“We only have one highway. When it’s unavailable, everyone’s cash flow dies, and life is pretty miserable,” Smith told Stuff.co.nz.

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