Insurers have paid out $NZ17.8 billion ($16.5 billion) to Canterbury earthquake victims, according to latest figures from the Insurance Council of New Zealand (ICNZ).

The number of domestic claims has reached 140,203, costing $NZ8.2 billion ($7.6 billion). Commercial claims number 166,387, worth $NZ9.6 billion ($8.89 billion).

The number of “over-cap” domestic properties – those damaged beyond the Earthquake Commission’s (EQC) $NZ100,000 ($92,758) compensation limit and passed onto private insurers – has risen 403 to 25,753 between the fourth quarter of last year and first quarter this year.

ICNZ CEO Tim Grafton says it is unacceptable for over-cap claims to still be coming through.

“It is extremely frustrating for homeowners and insurers to be receiving so many new property claims five and a half years after the events, which stresses the need for changes in the future,” he said. “Insurers should do all assessments for future natural disasters so that the most damaged properties can be rebuilt or repaired much sooner.”

About 96% of over-cap residential property claims are either settled (78%), resolved (6%) or in resolution (12%).

This week the EQC will introduce a faster handover process for the remaining few hundred over-cap residential claims. Properties will be transferred to insurers in a matter of weeks rather than several months, to give customers more certainty.

The commission is working closely with Southern Response and IAG, which have the most over-cap customers.

EQC GM Customer and Claims Trish Keith says the remaining claims are among the most difficult to resolve.

“We want to ensure the relatively small number of remaining customers’ dwelling claims move forward as quickly as possible,” she said.

In the next few weeks the EQC will call about 300 customers whose residential claims are likely to go over-cap.

“We will discuss with them how the process will affect their individual claim and how they can expect a call from their insurer, which will take on full responsibility for managing the claim from then onwards,” Ms Keith said.

IAG Customer Reinstatement GM Renee Walker and Southern Response GM Strategic Communications Linda Falwasser welcomed the faster handover.

“Getting Cantabrians back into homes as quickly as possible is the priority for everyone,” Ms Falwasser said.