Insured losses from the event were estimated at US$300m, as global economic losses reached US$37bn, 43% below the 21st-century average and the lowest since 2015.
Insurers brace for complex multi-event claims as Vaianu cuts power to 5,000 homes and forces coastal evacuations across Northland, Waikato and Hawke's Bay.
Review says 71% of New Zealanders expect natural disasters to worsen, while 65% accept premiums may rise as weather losses and rebuilding costs increase.
The insurance sector faces the potential for added pressure amid ongoing claims from recent NT and QLD floods, both states which could be impacted by Narelle.
