2009 among least costly for insurers

It appears 2009 was a year of great escapes for both New Zealand and the country's insurance industry.

A review of New Zealand's major hazards by the Natural Hazards Centre, reports it was one of the least costly years for insurers, in natural disaster claims.

Figures state there were just $6.75 million disaster claims, compared with over $86 million the year before.

The centre says earthquakes, floods, landslides and low rainfall were some of the major hazards, but it was a year of great escapes and near-misses, especially in the case of the magnitude 7.8 earthquake in Fiordland in July.

That was the country's biggest earthquake in 80 years.

- NEWSTALK ZB