9 May 2016

Settled Chch quake claims reaches 91 percent

12:33 pm on 9 May 2016

More than 90 percent of all earthquake-related residential insurance claims have been settled in Canterbury, the Insurance Council says.

Christchurch Construction.

Christchurch Construction. Photo: RNZ / Alexander Robertson

It said 83,000 earthquake-related insurance claims (91 percent of claims) have now been settled, five and a half years on from the February 2011 earthquake in Canterbury.

The council's quarterly progress figures also showed more than 20,000 of the settled claims are over the Earthquake Commission's $100,000 cap, which meant private insurers also shared the cost of the claim.

Insurance Council chief executive Tim Grafton

Insurance Council chief executive Tim Grafton. Photo: RNZ / Jonathan Mitchell

Its chief executive, Tim Grafton, said 275 customers still have not received offers from their insurance companies, and there are just over 400 properties where owners were yet to make a decision on the offers they have received.

In the last quarter, 403 homes were transferred to insurers from the Earthquake Commission.

The commission said it was introducing a faster handover process for claims which need to be transferred.

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