Too Early to Estimate Extent of Insured Damage

MEDIA RELEASE

July 22, 2013

Too Early to Estimate Extent of Insured Damage from Central New Zealand Earthquakes

The Insurance Council is advising commercial customers to contact their broker or insurer about any claims following the earthquakes in central New Zealand over the weekend.  Residential customers should contact EQC in the first instance.

“We believe the priority for commercial customers will be to confirm the integrity of their buildings to ensure there is no potential danger to tenants, staff or the general public,” says ICNZ Insurance Manager John Lucas. 

“We expect that many commercial customers are now getting structural engineers to assess any damage and that claims will likely start coming through following these assessments.  Accordingly, it will be days, if not weeks, before we get a clear picture of the potential cost of insured damage from the Cook Strait earthquakes,” he says.

“We’re encouraging commercial customers to check what’s covered under their policies and to contact their broker or insurer if they need any further information or clarification.  Insurers are well set up to handle the volume of calls that may arise as a result of the event,” says Mr Lucas. 

“Any residential claims should go directly to EQC in the first instance but brokers, insurers and banks will be available to deal with general enquiries.  It is important that people seek advice from a builder or engineer to confirm any damage to their homes and that repairs are not undertaken until you have agreement from EQC or your insurer,” says Mr Lucas.

ENDS

© Scoop Media