Christchurch Earthquake - EQC Payments approaching $NZ850 Million Target

New Zealand’s Earthquake Commission (EQC) has paid barred virtually $NZ850 million ($632 million) in claims following the two Christchurch earthquakes and aftershocks.

The EQC says it has traditional more than 312,000 claims since the basic major earthquake on September 4, of which 127,000 are from the bigger event on February 22.

It has complete almost 10,000 rotund assessments in place of injury from the February 22 wobble and assessed 180,000 homes under its rapid assessment process.

EQC first in command Ian Simpson says 8000 urgent repairs maintain been complete since the last part of February.

He says with the aim of similar to the flash wobble, the EQC worked with exclusive insurers to ensure near was a standardised assessment procedure to assessing claims in place of injury on the $NZ100,000 ($74,394) EQC cap.

“This allows us to approve folks claims and kind payment closer and easier,” he says.

Under the rapid assessment process, more than 12,000 homes maintain been identified as needing repairs on the $NZ100,000 cap, and an extra 8000 maintain been categorised as sternly damaged and probably on the cap. Full assessments on these properties ought to be complete by mid-July.

Another 40,000 maintain been classed as moderately damaged and ought to be fully assessed by mid-September while 120,000 households with minor or rebuff deceptive injury can expect a rotund assessment by mid-December.

The commission’s project supervisor, Fletchers EQR, has accredited 500 contracting firms employing 2500 force to cart barred the repairs. Work has besides begun with the Christchurch City Council and Civil Defence on procedures in place of specialist teams to enter the CBD and rockfall-prone areas.