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Auckland rains and floods cause thousands of insurance claims


Torrential rains and flash floods in New Zealand's biggest city, Auckland, have resulted in more than 6,000 insurance claims as of yesterday.

AMI, State and NZI Insurance, which trade under IAG, said they had received 3500 claims for property damage for homes and businesses, as well as flooded vehicles, according to a report in stuff.co.nz. AA Insurance was also experiencing a high number of claims, with 2,000 received as of Sunday morning.

“The full extent of the damage is expected to become clearer over the coming days,” a spokesperson said in a statement.

AA Insurance acting chief executive Simon Hobbs said, “Our assessors continue to survey the worst-hit areas of Auckland and have seen firsthand how significant and widespread the damage is. This event will result in a high volume of claims for the industry – and could be the biggest weather-related claims event in our history.”

A spokesperson from the Insurance Council of New Zealand (ICNZ) said many claims were yet to be made, as some people had not yet been able to access their homes or businesses.

ICNZ chief executive Tim Grafton said, “This is a very significant event which will result in a lot of claims. As always when such events occur, insurers will be gearing up their call centres and arranging for staff to help customers.”



Source: asiainsurancereview.com

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