EQC pays out $850m after Chch quakes
The Earthquake Commission (EQC) has paid out nearly $850 million since September's 7.1 earthquake and following aftershocks in Christchurch.
The Earthquake Commission (EQC) has paid out nearly $850 million since September's 7.1 earthquake and following aftershocks in Christchurch.
EQC had received more than 312,000 claims since September 4, including about 127,000 from February 22's 6.3 earthquake, chief executive Ian Simpson said.
Assessors had completed nearly 10,000 full assessments on properties damaged in the February quake, he said.
More than 12,000 properties suffered more than $100,000 of damage.
EQC covers the first $100,000 (plus GST) of damage, with homeowners' insurance responsible for the remainder.
A workforce of 500 contracting firms with 2500 staff was working on repairs. About 8000 urgent repairs had been completed since the end of February, Mr Simpson said.
EQC was also working with Christchurch City Council and Civil Defence to enable specialist teams to assess properties in the central business district and rockfall prone areas, he said.
People had until May 23 to submit a claim from February 22's quake.
A 5.2 aftershock on April 30 had been deemed a new event for insurance purposes and people whose properties sustained new or worsened damage from that quake had until August 1 to submit claims, Mr Simpson said.
NZPA
Sun, 08 May 2011
Sun, 08 May 2011
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EQC pays out $850m after Chch quakes
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