Insurance Australia Group (ASX:IAG) said Thursday it received a total of 3,536 claims as a result of 14 natural hazard events in New Zealand through spring and summer, with six of these events being significant storms causing millions of dollars in damage.
However, it saw a 57% decrease in significant storm claims in the spring and summer compared to last year, according to a statement.
The company received 908 claims from the Dunedin flood in October 2024, 373 claims from a storm that occurred during Northland Anniversary weekend in January, including a tornado at Mangawhai.
It received over 2,000 home, contents, commercial, and motor claims due to damage caused by ex-Tropical Cyclone Tam.
Research commissioned by the firm shows that over half of all New Zealanders have recently experienced anxiety and concern about storms and heavy rainfall, while 43% are concerned specifically about flooding.
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