After snow crippled the region in September now southlanders have blocked $47 million of insurance claims, except Federated Farmers said that the actual damage is hundreds of millions more.

Insurance Council of New Zealand chief executive, Terry Jordan held that different insurers had received about $47m in claims since the snow hit, but that excluded stock losses on farms were not enclosed by insurance.

Mr. Jordan alleged that the short-term figures showed 726 commercial property claims and it would cost insurers$36m, as well as structural damage and loss of business. Whereas $7m would be paid out for about 4000 domestic claims and it also included damage to houses.

In 1999 the flooding in the Queenstown Lakes district would have charged insurers about $58m and it was familiar for inflation.

He said that the claims after the snow this year are worth only a little less, but if they take into consideration the value of stock on farms, they're talking about much bigger losses and making big issues.

Federated Farmers Southland provincial president Rod Pemberton said that they have estimated livestock lost which was worth between $300m and $800m.