Nearly all insurance claims from the Edgecumbe floods have been partially or fully settled, according to the Insurance Council of New Zealand (ICNZ).
In April 2017, the banks of the Rangatāiki River burst through a flood bank, causing massive flooding and widespread, severe damage to the township of Edgecumbe.
ICNZ said the recovery has progressed well, with 1,080 claims received as a result of the flooding. On March 01, 98% of the claims had been partially or fully settled.
“This is a great result,” ICNZ chief executive Tim Grafton said. “The people of Edgecumbe suffered an incredible blow in the Easter flooding last year so to see how much progress has been made in resolving claims is heartening.”
“The bulk of claims received were for houses and contents and 98% of them have been settled, either in full or in part. This shows the commitment of insurers to getting people back on their feet after these sorts of events.”
Figures from ICNZ show the total amount paid for 1,059 claims partially/fully settled so far is at $54.3 million.
