www.iag.co.nz

26 July 2012

IAG Welcomes Earthquake Recovery Progress

The release of 2000 claims from EQC to private insurers, announced by Earthquake Minister Gerry Brownlee today, will help move things forward for some residential customers in Canterbury, according to IAG, New Zealand’s largest general insurer.

The insurer says it has been part of an industry group working for months with EQC and CERA on getting progress on a range of issues, and the Earthquake Minister’s announcement today is positive.

IAG’s New Zealand CEO Jacki Johnson says it is disappointing, however, to hear of issues being worked through described as “excuses”.

“The Minister is well aware of the complexity of the situation: some issues relate to the land, some also related to the demarcation between EQC and private insurers.

“Issues such flood risk or understanding the land that homes are to be repaired or rebuilt on, for example, are important because they are about ensuring our customers’ homes are safe and insurable,” Ms Johnson said.

“In many instances the information we need has been slow in coming, but we accept that as part of the process to ensure the right decisions are made, not just quick decisions.

“We understand there are frustrations, and share those frustrations,” Jacki Johnson said.

“Some comments today ignore the work we have been doing with EQC and the CERA over many months to get the best long term solutions for the people of Canterbury and that is disappointing.

“IAG has worked through these issues carefully and collaboratively, and we will continue to do so in order to achieve the best outcomes for our customers and the wider Canterbury community.”

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