New Zealand: Insured storm damage nears $68 million

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The Insurance Council of New Zealand said insurers have paid out about $77 million New Zealand ($67.5 million) in settling over 15,800 weather-related damage claims during the first half of 2014, The New Zealand Herald reported.

The payouts include NZD 4 million for damage caused by Cyclone Lusi, NZD 45.6 million for the April 17 storm and floods, NZD 4.8 million for the Feb. 23 Canterbury storm and NZD 22.5 million for the March Canterbury and Lower North Island storm.

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