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New Zealand: Nat CAT cost insurers US$74 mln in 2015

Source: Asia Insurance Review | Feb 2016

Natural disasters cost the New Zealand insurers NZ$115 million (US$74 million) last year, figures from the Insurance Council of New Zealand show. Damage and devastation from floods, storms, cyclones and tornados led New Zealanders to lodge nearly 2,000 insurance claims last year.
 
   The insured loss was however, the lowest in the last three years. In 2014, disasters cost the insurance industry NZ$152.8 million, and in 2013, insurers paid out NZ$206.4 million.
 
   Major insurance events included flooding in June in Otago which saw parts of Dunedin under water and cost NZ$28 million in claims.
 
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