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New Zealand: 2013 among most expensive years for storm damage

January 28, 2014 - 6:00am


The Insurance Council of New Zealand has said that more than $174 million New Zealand ($143.2 million) of insured costs was recorded in 2013, which was among the most expensive years for storm damage, The New Zealand Herald reported.

Council Chief Tim Grafton said the cost of insured damage during the year was topped only by 2004 when insured damage worth $181 million New Zealand $149 million), adjusted for inflation, was reported.

Mr. Grafton said the September 2013 storm resulted in a cost of $74.5 million New Zealand ($61.3 million).

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