Southern Response to close after seven years of bailouts, protests, legal action and spying

The Press, Dominic Harris, Aug 12 2019

A Crown-owned earthquake claims company that impacted the lives of thousands of Cantabrians will shut down in December.

Southern Response – set up by the Government when insurer AMI failed in in 2012 – has been winding down, with open claims now below 400. All outstanding business will to be passed on to a "receiving agency" when it effectively closes at the end of the year.

Tens of millions of dollars of unresolved cases are yet to be settled, but payouts have been guaranteed.

I think the Government needs to learn from the $1.5b of taxpayers’ money that it has had to pay to bailout that last board of directors of AMI Insurance, and it needs to supervise the insurance sector far more carefully and rigorously than it has, otherwise we’re doomed to repeat the same thing again.
— Cam Preston
Simon Darby