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New Zealand insurers waive terrorism exclusions after Christchurch shootings

New Zealand insurers AA Insurance Ltd. and Tower Ltd. are waiving the terrorism exclusions in their house, car, contents and commercial building policies for damage claims related to the recent shootings in Christchurch, online news portal Stuff reported.

Insurance Australia Group Ltd., which owns insurers operating in New Zealand, will also remove the terrorism exclusion in its policies for claims made in relation to the attacks.

Tower spokesman Nicholas Meseldzija reportedly said the exclusions are mostly driven by the company's arrangements with its reinsurers, but the company is not planning to make "any immediate or major changes" after the incidents.

At least 50 people have died and many others were wounded in an attack on two mosques on March 15.