Catastrophe payouts pressure insurers in New Zealand
Posted On: Feb. 14, 2018 5:02 AM CSTA substantial increase in the number of claims and claims payouts is testing the industry’s ability to keep up with natural disasters, Stuff.co.nz reported. Insurers settled more than $2.5 billion New Zealand ($1.8 billion) worth of claims related to natural disasters in 2017, according to the The Insurance Council of New Zealand. Ilan Noy, a disaster economist, said that the increase in claims is likely to lead to a rise in insurance premiums.