EQC to set up one-stop-shop for repairs

11:06 am on 28 September 2010

The Earthquake Commission (EQC) is searching both New Zealand and abroad for a company to oversee repairs to the thousands of earthquake-damaged homes in Canterbury.

It wants to set up a project management team which would handle every aspect of building repairs for people with property damage of up to $100,000. Repairs would be carried out by local companies, the commissions says.

If they wish, Cantabrians would still be able to organise their own repairs, as long receipts and certificates were provided that proved the repairs met construction standards.

Companies have until 4 October to submit tenders.

EQC cover 'adequate'

Meanwhile, the commission's chief executive Ian Simpson Commission says the $100,000 (plus GST) limit on cover is adequate.

That limit was set in 1993 based on what was considered sufficient to repair a modest home.

Anything above this amount is covered by private insurance companies.

Mr Simpson says the $60 annual premium would have to go up if the cover was to be raised, and it's been decided by a number of Governments that the balance between private insurers and the EQC is about right.

Ian Simpson expects about 50,000 Canterbury homes will require repairs costing up to $100,000 plus GST.