In last week’s bulletin we quoted a director of the New Zealand Earthquake Commission (EQC) on the fund’s ability to cover the cost of the February 22 Christchurch earthquake.

The EQC has contacted us to state that it has sufficient funds and access to reinsurance to cover the cost of both recent major earthquakes in Canterbury.

insuranceNEWS.com.au accepts the EQC’s clarification, but also stands by the accuracy of its reporting.