Post-quake insurance costs

The current insured losses estimate of around $200-$250m to the wine industry, is a reserve, based on immediate and apparent damage to tank farm infrastructure and barrelled/finished stock both at wineries and contract warehouse facilities. The insured losses for an inability to process the 2017 vintage are also hard to quantify at this stage due to vintage size being an unknown and policy wordings that differ greatly in terms of how they trigger, and the basis of settlement. These costs will become more apparent in the coming months.

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