Insurance Council fights stricter seismic rules

The Insurance Council has lodged a judicial review in the Christchurch High Court against higher earthquake strengthening required by the city's council.

In late 2010 the Christchurch City Council adopted a new policy with the “aim” of requiring new or upgraded buildings to achieve 67% of new building standard.

But the Insurance Council argues 67% is unlawful and is holding up repairs and rebuilds.

The judicial review comes in the same week the government says lifting the new building standard beyond 33% is unlikely because it would bankrupt the country.

The Christchurch council is currently under siege in the wake of the royal commission report which blamed it for failures relating to the CTV building collapse in February 2011.

Last week, mayor Bob Parker and fellow councillors rejected their own staff report to reopen some of the 161 public buildings closed in recent months because of seismic fears.


1 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

1 Comment & Question

Commenter icon key: Subscriber Verified

67%, stick your guns CCC.

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7191 0.0029 0.40%
AUD 0.9324 -0.0007 -0.08%
EUR 0.6802 0.0008 0.12%
GBP 0.5772 0.0035 0.61%
HKD 5.5795 0.0212 0.38%
JPY 81.2570 -0.1600 -0.20%

Commods

Commodity Price Change Time
Gold Index 1238.9 0.850 2017-02-21T00:
Oil Brent 56.8 0.860 2017-02-21T00:
Oil Nymex 54.3 0.940 2017-02-21T00:
Silver Index 18.0 -0.030 2017-02-21T00:

Indices

Symbol Open High Last %
NZX 50 7062.5 7069.4 7062.5 0.10%
NASDAQ 5857.6 5864.4 5865.9 -0.09%
DAX 11989.7 12031.1 11967.5 0.26%
DJI 20715.4 20781.6 20743.0 0.16%
FTSE 7274.8 7314.3 7274.8 0.38%
HKSE 24059.1 24202.0 23963.6 0.99%
NI225 19419.2 19419.2 19381.4 -0.01%
ASX 5791.0 5805.1 5791.0 0.24%