Insurers involved in the Canterbury residential rebuild have settled almost 60% of all earthquake dwelling claims which go over the Earthquake Commission's cap or are out of the scope.
An earthquake-damaged home in the Christchurch suburb of Sumner Photo: RNZ / Diego Opatowski
In such cases, where home repairs or replacements will cost over the EQC cap of $100,000, management of the claim is handed over to the private insurer.
Figures from the Canterbury Earthquake's Recovery Authority's latest quarterly survey show insurers had settled 51,799 of 87,705 over-cap dwelling claims, as of March the 31st.
41,924 out-of-scope dwelling claims have been settled.
As well 9,875 or 44% over-cap claims have been finalised.
Insurance Council chief executive Tim Grafton said at the end of April 2014 insurers had paid out $4.06 billion in residential earthquake-related claims - $555 million of that in the last four months.
