ICNZ tallies $1.5bn in Kaikoura claims

The Insurance Council of New Zealand (ICNZ) said private insurers
expect to have paid most claims arising from the Kaikōura
earthquake last November and the Edgecumbe flood in April by
year-end.
The total value of insurance claims for the Kaikōura
earthquake as at 31 August was over NZ$2.0bn ($1.5bn), with
commercial claims accounting for NZ$1.48bn and residential claims
amounting to nearly NZ$550mn, the ICNZ said.
The council continued that 76 percent of commercial claims by
number fr