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3,483 claims so far from Boxing Day aftershock
6 January 2011
EQC has now received 3,483 claims from the 4.9 magnitude Boxing Day earthquake, well up on the 2,139 claims from the 19 October aftershock and the 1,986 from the 14 November aftershock to date.
It is an increase of 1,931 on the number received at this time last week.
"Many people will be back from holiday now and have found new damage and/or that existing damage has got worse," the chief executive of the Earthquake Commission, Ian Simpson, said today.
"The total number of claims we have received from the September 4 earthquake and the three main aftershocks to date is 165,203.
"Any residential property owner with new damage or old damage made worse by the aftershock should call EQC on 0800 326 243 (international call +64 4 978 6400 or +64 4 978 6401) or go to the EQC website (eqc.govt.nz). If an owner has lodged a claim for the 4 September earthquake and/or a previous aftershock, has not had the property inspected, and the damage has worsened, EQC will add this to the existing claim.
"If an owner has not made a claim before, or if it is new and separate damage, or if the owner has had an earlier claim settled, then the owner will be lodging an entirely new claim. People have three months from 26 December to make a claim.
"Under our emergency repair provisions, homeowners can get work done to secure or waterproof a property, remove a badly broken chimney, or fix broken service such as sewer, water or power. They need to arrange the work themselves and send the invoice with supporting documentation to EQC, P O Box 311, Wellington.
"In the meantime, assessments, settlements and payments continue. As of today, we have settled 28,250 claims, completed assessments for a further 22,424, and begun assessments for another 24,755. This total of 75,429 is 2,638 up on this time last week. This is just under 47% of all claims received.
"In reality, we are currently processing or have processed well over half of the total number of single, valid claims. The total number of claims made will reduce significantly as we weed out duplicates and the like.
As of today, EQC has paid out $591. 80 million to claimants with residential property damaged by the Canterbury earthquakes. This is an increase of $11.03 million on this time last week. A total of 84,532 separate payments for buildings, contents and land have been made to date.
"The total paid to date is a significant portion of the current estimated cost to us of $2.75 billion to $3.5 billion. EQC is only liable for the first $1.5 billion of the cost of the claims after which our reinsurance takes effect. Reinsurance covers the costs between $1.5 billion and $4 billion.
"On the above basis, this would leave around $4.5 billion in the Natural Disaster Fund plus reinsurance support in place for an additional $2.5 billion which would leave a good buffer in place for future natural disaster events.
"At present we are working on claims of those we know are at home during the holiday period and from Monday 17 January will resume our normal suburb-by-suburb assessment process. If you are on holiday between now and 16 January you will not be affected," Mr Simpson concluded.
END
Contact:
Jo Martin Communications Adviser
Phone (029) 978-6430
Email info@eqc.govt.nz