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International

Tasman Tempest storm costs insurance industry $45 million

July 17, 2017 Reprints

The Insurance Council of New Zealand said that the Tasman Tempest storm has cost the insurance industry nearly $62 million New Zealand ($45 million), NZHerald.co.nz reported. The storm, which hit the country's upper North Island during March 7-12, resulted in nearly 7,800 claims, ICNZ said. There were nearly 900 commercial claims amounting to around NZD 21 million, and 14 marine claims resulting in a cost of NZD 110,000.

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Tasman Tempest storm costs insurance industry $45 million

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