Government to launch EQ insurance tribunal and public inquiry into EQC
As reported in Scoop 17 may 2018:
The Government is launching a special insurance tribunal to resolve outstanding Earthquake Commission (EQC) and insurance claims:
• Tribunal will resolve unsettled residential insurance disputes arising from the Canterbury earthquakes of 2010 and 2011.
• It will provide an active, individually case-managed resolution process for claimants and their insurers, as well as mediation services.
• $6.5 million is provided for operating funds and $1.5 million capital to establish the tribunal.
In it's 2018 Budget, the Government also announced it is launching a public enquiry into EQC.
• The independent inquiry will have to power to compel evidence, hold public hearings and ensure all the information needed is put on the table.
• “It is important to get to the bottom of what went wrong, so that we are better prepared for future disasters. We owe it to the people of Canterbury, who have been through so much, to ensure their voices are heard” – Hon. Megan Woods
• $800,000 provided for operating funds in 2017/18 and $2.4 million in 2018/19, as well as $100,000 of capital in 2017/18 to ensure the inquiry has the resources it needs.
• The inquiry will inform legislative changes to the Earthquake Commission Act 1993 and to EQC, and a planned review of insurance contract law.
• Final terms of reference and membership of the inquiry will be announced shortly.