New Zealand: Natural disaster claims in 2013 highest in 10 years, says insurers

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Insurers said natural-disaster claims in 2013 were the highest in 10 years, with more than $175 million New Zealand ($143.8 million) paid out because of severe storms, reported.

Meanwhile, insurers have settled claims of NZD 10.2 billion ($8.38 billion) in connection with the Christchurch earthquake.

Insurers are concerned about the number of claims the Earthquake Commission is moving on to the industry as they were found to have surpassed the EQC liability cap, says the Insurance Council of New Zealand.

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