Insurer signals further Canterbury claims boost
“Over the past six months, the insurance industry has received over 800 new claims as EQC accelerate their program,” the statement said.
“The average cost of claims received has been greater than initially expected and, contrary to expectations, the EQC’s projected slowdown in new claims has not materialised.
“Further, recent reports have shown there are potentially in excess of 6,000 EQC claims requiring remediation. It is expected that some of these will exceed the $100,000 EQC threshold, resulting in the cost being borne by insurers.
Insurance Business Online | Maryvonne Gray | 8th September 2016