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Cyclone triggers $560 million worth of claims in New Zealand

Posted On: Mar. 23, 2023 10:04 AM CST


The Insurance Council of New Zealand said that Cyclone Gabrielle, which hit the North Island on Feb. 12 and caused widespread damage across the region, triggered 40,000 insurance claims worth around $890 million New Zealand ($560 million), XM reported citing Reuters. Insurers have received claims worth NZD350 million from businesses.