Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Vero ramps up activity in Christchurch


Vero ramps up activity in Christchurch

Vero continues to make progress in Christchurch. In September this year Vero was the first insurer to provide customers with scheduled dates for their reinstatements and is currently planning for an increase in rebuilding activity leading into the New Year.

Vero has a total of 19,600 commercial and domestic claims of which it has settled almost 50%. A total of $1.76 billion has already been paid out.

In addition to work already underway, Vero’s residential customers have been contacted with construction dates that range from a start date within the next six months to 2015. These timeframes are in line with planned building resource capacity and anticipated timeframes to secure the information needed to start construction on projects.

If customers do not wish to participate in the Vero reinstatement programme, they can talk to us and explore their options.

“This is a commitment Vero made to its customers in August this year and it is an important step in our reinstatement approach to customers. As we work through the reinstatement activity, we intend to have increased conversations with our customers, particularly those impacted in the TC3 areas of Christchurch.

“In my experience it is important to understand both the variety and shared complexities our customers face following significant disasters and for us to tailor our response to these complexities. We have therefore identified the need to have specialist teams dedicated to customer groups,” said Jimmy Higgins, Vero Executive General Manager – Earthquake Programme.

Since April this year, after DBH released its foundation guidelines for TC3 properties, Vero has been working to these guidelines in designing reinstatement solutions for affected customers.

“Our customers in TC3 areas of Christchurch are an important part of our overall reinstatement programme. Careful planning and scheduling of repairs for these customers has ensured that our drilling programme is proceeding as planned and we’re confident that our planned repairs will not be delayed because of drilling.

“Vero has already started repairs in some TC3 areas of Christchurch and our drilling program is enabling us to better understand reinstatement solutions and progress our customers through the reinstatement process,” said Jimmy Higgins.

Vero has over 1,000 projects (both domestic and commercial) in the final stages of preconstruction, with contracts prepared for execution.

“While there is currently a modest number of over-cap domestic rebuilds and repairs underway, we expect construction activity to significantly increase in the first half of next year.

“Almost a third of all our EQC-excluded claims have been completed or are near completion. On average we continue to pay between $80 million and $100 million a month in claims,” concluded Jimmy Higgins.
Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news