Christchurch re-repairs cost EQC $270m in total

Posted 06 Apr 2018 by EQCFix

From Checkpoint, 5:07 pm on 5 April 2018

Visit Checkpoint to listen to the full interview: https://www.radionz.co.nz/national/programmes/checkpoint/audio/2018639219/christchurch-re-repairs-cost-eqc-270m-in-total

EQC has spent more than a quarter of a billion dollars on re-repairing Christchurch quake-damaged homes and on cash settlements for remedial work, $200m more than what it estimated the overall cost would be. 

Yesterday, Checkpoint reported the cost of EQC-managed re-repairs of quake damaged homes had risen from a predicted $60-$70-million to $160m. 

Today the commission revealed that figure actually stands at $170m, while cash settlements have reached $100m for 8000 homes. This brings the total bill to $270m.

Anthony Harper lawyer Peter Woods, whose firm has represented about 200 claimants against the EQC and insurers, said he was not surprised by the cost of re-repairs completed on quake-affected homes.

"And there is a lot more that's got to be done. I think what we're seeing is that the claims coming in for remedials now are harder, more expensive and harder for EQC to figure out. 

"The money they've spent so far has probably been spent on the easier stuff. I wouldn't be surprised if that figure doubles."

He said a lot of the missed work had been structural due to repair guidelines not factoring in "rubble foundations" - those made with a mix of concrete, boulders and other material, common practice in homes built before 1970.

Full story here: 

https://www.radionz.co.nz/national/programmes/checkpoint/audio/2018639219/christchurch-re-repairs-cost-eqc-270m-in-total


The Press coverage:

Botched repair bill $270m for 11,000 homes and counting

LIZ MCDONALD

Last updated 19:25, April 5 2018

New figures reveal the Earthquake Commission (EQC) has now spent over quarter of a billion dollars fixing over 11,000 homes with botched or inadequate home repairs in Canterbury.

EQC has revealed it has paid out $100 million in cash settlements to homeowners arranging their own re-repairs, on top of an updated bill for managed re-repairs of $170m. 

Information obtained by Stuff under the Official Information Act shows that of 16,404 second-time-around claims for repairs, EQC has accepted 11,051, and 1099 have exceeded the organisation's $100,000 liability cap and require a private insurance top-up. 

Full story here:

https://www.stuff.co.nz/the-press/news/102861390/botched-repair-bill-270m-for-11000-homes-and-counting

This article was sourced from another website - view the original article.

Discussion

Related Items