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New Zealand claims payouts for extreme weather approaching $200m in H1 2022

August 1, 2022

Data released by the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) says that total insurance payments for extreme weather events is already nearing $200m in H1 2022.

This compares to last year, when a total of $324m was paid out—an annual record at the time.

This new data shows that final claims for late March’s floods total $119.6m (this was preliminarily reported at $79.6m) and preliminary data for storms across the motu in mid-June total $15.5m. This brings the running total for the year to $198m. This excludes $6m from January’s tsunami following the Tongan volcanic eruption and all claims for July which should be reported on a preliminary basis from late August.

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