No cover for many flood victims

At least a quarter of those affected by last week's devastating floods have no insurance and no way of rebuilding their lives, the Insurance Council says.

Monday, February 23rd 2004, 7:57AM

by The Landlord

The floods are now considered by the Government to be the biggest natural disaster to have hit New Zealand since the 1931 Napier earthquake.

Government ministers are today expected to sign off a massive relief package, possibly worth more than $100 million. Some estimates put the total bill for damage as high as $300 million.

"We've had to bring in people from all over the country and we are the first ones to see what the damage is from a claims point of view, and it's extensive," said Insurance Council chief executive Chris Ryan. He warned there could be big problems re-housing people in smaller rural communities, particularly the 25 per cent without insurance.

Read More - Opens in a new window

« Slowdown in house prices

Time to move your house into trust territory - Mary Holm »

Special Offers

Commenting is closed

Lender

Flt

1yr

2yr

3yr

AIA - Back My Build

3.34

AIA - Go Home Loans

5.89

4.65

5.25

5.49

ANZ

5.79

5.39

6.09

6.29

ANZ Blueprint to Build

7.39

ANZ Good Energy

1.00

ANZ Special

4.79

5.49

5.69

ASB Bank

5.79

4.65

5.25

5.49

ASB Better Homes Top Up

1.00

Avanti Finance - Near Prime

6.35

Avanti Finance - Specialised

7.45

Basecorp Finance

6.35

Lender

Flt

1yr

2yr

3yr

BNZ - Mortgage One

5.94

BNZ - Rapid Repay

5.94

BNZ - Std

5.84

4.65

5.19

5.39

BNZ - TotalMoney

5.94

CFML 321 Loans

3.95

CFML Home Loans

6.05

CFML Prime Loans

6.25

CFML Standard Loans

6.95

China Construction Bank

6.44

4.85

4.95

China Construction Bank Special

6.44

5.85

5.95

Co-operative Bank - First Home Special

4.55

Lender

Flt

1yr

2yr

3yr

Co-operative Bank - Owner Occ

4.99

4.65

5.29

5.49

Co-operative Bank - Standard

4.99

5.15

5.79

5.99

Credit Union Auckland

7.70

First Credit Union Special

5.09

5.49

First Credit Union Standard

6.49

5.69

6.09

Heartland Bank - Online

5.80

5.89

Heartland Bank - Reverse Mortgage

7.99

Heretaunga Building Society

6.50

5.50

5.65

ICBC

5.39

4.49

4.99

5.25

Kainga Ora

5.79

4.59

4.95

5.19

Kainga Ora - First Home Buyer Special

Lender

Flt

1yr

2yr

3yr

5.75

5.65

6.19

6.35

Kiwibank - Offset

5.75

Kiwibank Special

5.75

4.75

5.29

5.55

Liberty

6.65

6.55

6.22

6.20

Nelson Building Society

6.49

4.69

5.09

Pepper Money Near Prime

6.55

Pepper Money Prime

5.99

Pepper Money Specialist

8.00

SBS Bank

5.84

5.29

5.79

5.99

SBS Bank Special

4.69

5.19

5.39

SBS Construction lending for FHB

3.74

Lender

Flt

1yr

2yr

3yr

SBS FirstHome Combo

▲6.19

▲5.79

SBS FirstHome Combo

SBS Unwind reverse equity

7.99

TSB Bank

6.59

5.49

6.05

6.29

TSB Special

5.79

4.69

5.25

5.49

Unity First Home Buyer special

4.09

Unity Special

5.79

4.80

5.29

Unity Standard

5.79

5.60

6.09

Wairarapa Building Society

6.15

4.95

5.45

Westpac

5.89

5.39

5.79

6.09

Westpac Choices Everyday

5.99

Lender

Flt

1yr

2yr

3yr

Westpac Offset

5.89

Westpac Special

4.79

5.19

5.49

Median

5.94

4.85

5.45

5.49

NZ's Financial Adviser News Centre

NZ's Financial Adviser News Centre

News

No cover for many flood victims

At least a quarter of those affected by last week's devastating floods have no insurance and no way of rebuilding their lives, the Insurance Council says.

Monday, February 23rd 2004, 7:57AM

Commenting is closed