Canterbury Recovery Update, August 2013
CANTERBURY RECOVERY UPDATE
20 August 2013
Our goal: All earthquake claims settled by December 2015
Nearly three years on from the first Canterbury earthquake, we are making good progress on settling claims for our customers. To date, we have settled more than 40% of total claims, representing a cost of over $2.3 billion.
Over 67% of over cap residential claims are now either settled or in progress.
More than 2,230 families have moved into new homes we have purchased, built or repaired for them, and 2,289 more have homes currently in some stage of construction.
In addition, over 7,000 customers have had their non-EQC claims (paths, driveways and fences) settled.
We have committed to completing all claims by the end of 2015 and remain on track to achieve this. Recent increased momentum - the programme has grown from 2,450 claims settled or in construction last December to 4,250 this month – validates this confidence.
The commercial recovery continues to make good progress with 87% of business interruption claims and 66% of material damage claims settled. With a total of 72% of commercial claims settled, this represents more than $1.5 billion paid out in material damage and business interruption claims.