### ODT Online Mon, 9 May 2016
Flood’s ‘true’ cost $138 million
By Vaughan Elder
The “true” cost of last June’s Dunedin flood has been revealed as more than $138 million. Dunedin Mayor Dave Cull said the “sobering” figure, calculated by New Zealand’s largest insurance company, IAG, would sharpen the council’s resolve on investing in better infrastructure. […] IAG calculated the $138.4 million taking into account $28.2 million insurance pay out together with estimates of the economic and social impact of the event.
Economic costs took into account damage to uninsured properties, lost productivity, work to fix infrastructure and social costs included stress suffered by affected residents and business owners.
DCC Graphic: South Dunedin and adjacent stormwater catchments
Area approx 570ha, comprising 10-15% of Dunedin’s central urban area.
Posted by Elizabeth Kerr