NZ Government fast-tracks quake claims
The NZ Government wants insurers to fast-track the processing of claims following the Christchurch earthquake, although the industry says that all it can do is being done.
Economic Development Minister Gerry Brownlee, who has responsibility for co-ordinating the quake response, says the Government has been working with insurers to speed things up.
“We have been working over the last two days with insurers, the Earthquake Commission, banks and local government to ensure the process of paying out claims to people who have suffered damage is done as quickly as possible,” he said.
But Insurance Council of New Zealand CEO Chris Ryan, who spent a week in the quake zone, told insuranceNEWS.com.au the insurance industry is “right in the thick of the recovery effort”.
“There’s been a massive response from the insurance industry,” he said. “We’ve got loss adjusters from all over the country, from Australia and South Africa, and they’re doing a marvellous job.”
Mr Ryan says despite the considerable damage, it’s important to note that 98% of the buildings are “okay”, with older buildings the worst affected.
In Christchurch, more than 6000 buildings have been evaluated, with 3% considered unsafe, 14% requiring further structural assessment and 83% assessed as structurally fit.