The New Zealand Government has proposed only minor changes to the Earthquake Commission (EQC) following a review.

Earthquake Recovery Minister Gerry Brownlee last week told local media this would be the outcome.

The review, which is almost complete, was announced in 2012 after the Canterbury quakes. A report will go to cabinet within a couple of months.

New Zealand insurers and the commission have suggested several major changes to the EQC Act.

Insurers want an overhaul of the system in which the EQC pays the first $NZ100,000 ($94,110) of claims and passes any further sum to private insurers. They say it causes duplication and unnecessary delays.

The EQC has suggested pricing to reflect risk, rather than the current flat levy, and dropping contents cover.

The commission held meetings with business and reinsurer representatives in major cities last week.

Reinsurers will cover about 80% of the economic loss from the Canterbury earthquakes, and their representatives spoke of uncertainty while they await the outcome of the review by Treasury.