FMG distributes over $260 million in cyclone and flood recovery

FMG distributes over $260 million in cyclone and flood recovery | Insurance Business New Zealand

Catastrophe & Flood

FMG distributes over $260 million in cyclone and flood recovery

Insurer looks back at efforts a year after Cyclone Gabrielle and Auckland Anniversary Weekend floods

Catastrophe & Flood

By
Roxanne Libatique

FMG has disbursed over $260 million to communities affected by the destructive forces of Cyclone Gabrielle and the Auckland Anniversary Weekend floods.

A year after these events, FMG has resolved more than 90% of the nearly 12,000 claims filed.

The relief efforts began with a claim from a Whangarei resident facing severe roof damage and leaks, setting off a cascade of insurance claims from various regions, extending to Southland.

A year after the floods

Reflecting on the year since the extreme weather events, FMG recovery manager Jacqui McIntosh emphasised the importance of policyholders understanding their coverage and ensuring their properties are adequately protected against such catastrophic events.

“You could say it’s been a year. A year to forget, a year to reflect, and most certainly a year to learn from. This is especially important when it comes to ensuring your property is well insured and that you understand how that insurance will work when the very worst happens,” she said.

Advice for New Zealanders

McIntosh advised people to review their insurance policies, checking that coverage amounts are current and in line with the actual replacement costs in today’s market. This step is vital for ensuring that policyholders are adequately prepared for future emergencies.

“As an insurer, it is our purpose to get people back on their feet when the worst things happen. If you have any questions about your policy or want to better understand your cover, then log into FMG Connect via our website or give us a call,” she said.

Continued support

With a focus on finalising the outstanding claims, the FMG team continues to support its clients. This involves direct communication, assistance in the claims process, and collaboration with assessors and builders to facilitate recovery.

“For many, they have been there since day one as the claim arrived, at the other end of the phone, email, or around the kitchen table. Liaising with assessors and builders or with EQC. I know they look forward to the opportunity to do right by our clients,” McIntosh said.

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