Insurance cost of extreme weather events identified by the Insurance Council of New Zealand
1975–2014, NZD millions
Limitations of the data
ICNZ also provides data adjusted for inflation but using the consumers price index only.
These data represent only the insurance costs – the total costs of events will be much larger.
Data provided by
Environmental Reporting: Number of extreme weather events identified by ICNZ 1975–2014
How to find the data
At URL provided, select 'Download' from the top right of the screen. You will have to register to download this dataset. Figure.NZ created a summary sheet for processing purposes.
Import & extraction details
From the dataset Environmental Reporting: Number of extreme weather events identified by ICNZ 1975–2014, this data was extracted:
- Sheet: Summary
- Provided: 120 data points
This data forms the table Climate - Number of extreme weather events identified by ICNZ 1975–2014.
Dataset originally released on:
October 02, 2015
Purpose of collection
This dataset relates to the "Insurance losses for extreme weather events" measure on the Environmental Indicators, Te taiao Aotearoa website.
Method of collection/Data provider
The Insurance Council of New Zealand (ICNZ) collects data on natural disasters in New Zealand. This includes, but is not restricted to, the occurrence and costs of selected expensive extreme weather events. Floods, tornadoes, and snowstorms are a few examples of extreme weather events. However, some events can be severe (eg damaging storms) but not statistically extreme. The source included only events from the ICNZ dataset where a weather event is noted.
When ICNZ considers a natural disaster event extreme enough, it requests information on insurance losses from its member insurance companies. Alternatively, members may prompt the ICNZ to record data on a natural disaster event. The ICNZ requires all its members to provide their insurance losses for that event.
The main insurance classes affected are domestic home and contents, commercial material damage, and business interruption. Insurance losses can also be influenced by other factors, such as the extent of insurance cover.