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Insurers pay record $228 million in extreme weather damage claims



New Zealand’s insurance council said that total insurance payouts relating to extreme weather surpassed $321 million New Zealand ($228 million) in 2021, setting a new record, Stuff reported. The total claims value is higher than NZD274 million paid by insurers in 2020, with the increased claims cost blamed on factors such as sharp rise in costs of construction.

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