EQC making strong progress in settling Kaikoura earthquake claims

Posted 06 Nov 2017 by GovtEQC
Posted in EQC , EQR

The Earthquake Commission has now settled close to two thirds of all residential building claims that have been lodged following last year’s Kaikoura earthquake. 

General Manager Customer and Claims Trish Keith says that EQC is on track to settle at least 75 per cent of Kaikoura residential building claims by Christmas, with the rest being completed in early 2018.

“The 2016 Kaikoura earthquake was the second largest event in EQC’s history after the Canterbury earthquakes and we received around 38,000 residential claims from across New Zealand. 

“We are proud of the progress that both EQC and the insurance companies, as our agents, have made to settle this volume of claims for customers in the year since the earthquake happened and only nine months after the claims lodgement deadline. We have shown that we can work together through the Memorandum of Understanding to best utilise resources. This also provides a simpler assessment and settlement process for customers, particularly those with overcap claims and damage that is only covered by their private insurance policy.” 

Mrs Keith says that at the end of October, 91 per cent of all claims have been assessed, with 65 per cent of all building claims, 92 per cent of all contents claims and 93 per cent of all land claims settled.

“Hurunui, Kaikoura and Marlborough were the regions that were the hardest hit around the epicentre of the earthquake. These districts account for a high number of claims that have been lodged. Overall the majority of claims were received from customers in the main urban areas of Christchurch and Wellington. 

The assessment and settlement progress in the following areas as at 31 October 2017:

Region Total number of
building claims
% of building claims
left to be assessed
% of building claims
settled
Marlborough 4,365 Less than 5% 40%
Hurunui 2,780 Less than 5% 40%
Kaikoura 2,146 Less than 5% 44%
Christchurch city 7,277 20% 42%
Wellington city 4,299 20% 38%

“Of the 5,400 claims that EQC is managing directly for land and claims that are open from previous events, we have only got less than 400 claims, or seven per cent left to settle. 

“EQC has paid $168.8 million to insurers who manage EQC customers and $28.4 million to customers that EQC manages and these payments will increase as more claims are settled.”

Mrs Keith says that the anniversary is a time to reflect on the earthquake, how people are coping and the progress of the recovery and rebuilding in communities.

“EQC recognises that there is work to be done before everyone’s claim is assessed and settled. While we have made significant progress, all of our customers can be assured that EQC will continue working to settle their claim and provide all necessary support and information until the job is finished.” 
 
EQC Media Contact: media@eqc.govt.nz or 029 978 643
 

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