Kaikoura earthquake Update: How are we doing?
As at 31 January 2018, we've completed 98% of all initial residential building assessments, 88% of residential building settlements, 96% of contents settlements and 98% of land settlements.
So what's left overall?
As at 31 January, of the 38,000 residential claims that resulted from the 2016 Kaikoura earthquake, we've got the following left to complete:
• 2%, or just under 800, of initial assessments of residential buildings.
• 12%, or less than 5,000, building settlements,
• 4% of all contents settlements, and
• 2%, or just over 70, of all land settlements
Below is our settlement progress in the following areas as at 31 January 2018:
|Region||Total number of building claims||% of building claims left to be settled|
So far we have paid:
• $295 million to insurers who manage EQC customers; and
• $32.19 million to customers who we manage (land and/or properties with open or unresolved claims for prior natural disaster damage).
We were responsible for directly managing just over 5,400 claims. As of 31 January 2018, we've got just over 150 claims, or three per cent, left to settle.
We've learnt from managing previous natural disaster responses that it's really hard to forecast exactly how long it's going to take to finish the last few claims. As at today, we're confident we are well on track to complete the vast majority of the remaining EQC claims by the end of March this year.
As always, if you have any feedback on this newsletter, we'd love to hear from you. Email us at email@example.com.