Fletcher Building wants Govt to be quake insurer of last resort

5:33 pm on 16 November 2011

New Zealand's biggest construction company is calling on the Government to step in and insure projects in Canterbury so earthquake rebuilding can get underway.

Fletcher Building held its annual shareholders' meeting in Auckland on Wednesday.

Chief executive Jonathan Ling says they need to get started on housing and commercial developments in Canterbury.

He says hundreds of projects already have consents and are ready to go, but are unable to get insurance.

Mr Ling says that is where the Government should come in - being an insurer of last resort - even if it was just for six months.

He says they have made their thoughts known to the Government, and he imagines there is a lot debate going on about them.