A total of 11,086 extreme weather-related claims spanning five events across July and August have reached a combined value of $123.8 million, according to the Insurance Council of New Zealand (ICNZ).
This is 35%, or $32.1 million, higher than the provisional report for these climate-related events.
“We are used to reporting separately on discrete climate related events, but this is an example of something different,” said ICNZ chief executive Tim Grafton. “Wave after wave of extreme wet weather led to weeks of local flooding and slips during what NIWA has declared as Aotearoa New Zealand’s warmest and wettest winter on record. This is certainly reflected in the damage and disruption across the motu.”
The following table breaks down the claims amount. These figures are just for general insurance, and these do not include the cost of claims covered by Toka Tū Ake EQC, as well as costs borne by local government for running emergency and clean-up operations, as well as road repairs.
|
Event |
Date |
(Provisional) |
Final |
Claims |
|
New Zealand weather |
July 11-13 |
($15.38 million) |
$18.21 million |
2,914 |
|
South Island weather |
July 17-21 |
($16.1 million) |
$20.56 million |
2,274 |
|
New Zealand weather |
July 24-27 |
($15.38 million) |
$18.21 million |
2,228 |
|
Nelson Tasman floods |
Aug. 18-21 |
($21.63 million) |
$31.14 million |
1,575 |
|
Rest of NZ |
Aug. 18-21 |
($26.34 million) |
$36.7 million |
2,095 |
|
Total: |
|
($91.67 million) |
$123.78 million |
11,086 |
“There is a clear pattern here of repeat bands of extreme rain saturating the ground making it more prone to slips, flooding and resultant infrastructure damage, including to roads,” Grafton said. “As the long-term warming trend continues, we can expect this to keep happening.”
Grafton urged central and local governments to work with communities to invest in resilience. He warned that if the risks are not reduced, then the trauma of these events, including the risk to lives, property, and economic activity, will keep getting worse.
According to ICNZ, 2022’s running total for extreme weather events is at $335.58 million, a record high. The cost of claims for November’s extreme weather events will be reported in early 2023.
