Christchurch’s billion-dollar earthquake damages
The Earthquake Commission has paid out over $1 billion in claims from the earthquakes in Canterbury since September 4 last year.
The Earthquake Commission (EQC) has paid out more than $1 billion in claims for earthquake damage to residential property since September 4 last year, said Canterbury Earthquake Recovery Minister Gerry Brownlee today.
The EQC has received nearly 370,000 claims since September - more than 22,000 related to the 13 June aftershock.
Mr Brownlee said EQC had paid an average of $3 million per day. That level of payment was expected to increase significantly.
Since last week’s announcement of residential zones EQC has been continuing with its residential building assessment work.
Mr Brownlee said the EQC was close to finishing assessments of properties that were now classified as being in the residential red zone.
“They will then turn their attention to those in the orange zone and give people in those areas as much certainty as possible.”
Full assessments for severe structural damage should be complete by mid-July; while all other assessments should be complete by the end of the year.
NBR staff
Mon, 04 Jul 2011
Mon, 04 Jul 2011
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Christchurch’s billion-dollar earthquake damages
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