Vero’s head of earthquake response Jimmy Higgins has described the gap between customer expectations and what insurers are delivering as being of concern.
insuranceNEWS.com.au report have reported on Mr Higgins comments to the New Zealand Insurance Law Association. A few quotes:
Jimmy Higgins says it’s understandable that consumers who have lived in damaged housing for up to two years can lose trust in the ability of insurers, the Government and its agencies, and start to question the point of insurance.
But Mr Higgins says insurers, the Earthquake Commission, Canterbury Earthquake Recovery Authority and the Government are trying to bridge the expectation gap, and the progress insurers are making is consistent with the scale and complexity of the disaster.
“The Christchurch recovery has had to contend with unique factors including scale, complexity and lack of recent experience in managing massive natural-hazard disasters,” he said.
“No individual participant, such as an insurer or government agency, can control the recovery pace, nor can they justifiably be held responsible when that pace does not meet customer or community expectations.”
The full article is here.