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

 

Kaikōura Earthquake Claims Progressing Well

MEDIA ADVISORY

25 January 2018

Kaikōura Earthquake Claims Progressing Well

The Kaikōura earthquake recovery is progressing well, according to new data out today from the Insurance Council of NZ.

Figures released this morning show that the insurance sector has exceeded its goal of having a majority of claims settled by the end of 2017.

At 31 December, 88% of all domestic claims had been partially- or fully settled.

“These numbers show how effective the approach insurers and EQC took to managing events post-Kaikōura has been,” said ICNZ Chief Executive, Tim Grafton. “By allowing people to make claims with their insurers for non-land damage that EQC may cover, the vast majority of insurers—acting as agents for EQC—have enabled thousands of people to have their claims assessed and settled much faster than we saw post-Canterbury earthquake.”

After Kaikōura, insurers managed and settled the vast majority of domestic claims. Private insurers have also managed all commercial claims.

“This is the model for the future, which the new Labour-led government should require for management of any future natural disasters,” said Grafton.

Total insured losses to date for the Kaikōura earthquake are $2.14 billion, of which $631 million is from domestic claims.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Super Fund/Canada Bid v NZTA: Tow Preferred Bidders For Auckland Light Rail

The two preferred delivery partners for Auckland light rail have been chosen and a final decision on who will build this transformational infrastructure will be made early next year, Minister of Transport Phil Twyford announced. More>>

ALSO:

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO: