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Media statements
Update December 14
14 December 2010
"The number of claims lodged with the Earthquake Commission by the deadline of midnight on 6 December for the Canterbury earthquake on 4 September was 160,641," EQC chief executive Ian Simpson said today.
"This included claims lodged for damage from the two main aftershocks on 19 October (5.0 magnitude) and 14 November (4.9 magnitude).""The number of claims lodged for damage from the 4 September earthquake as such was 157,071, with a further 1,778 lodged for the 19 October aftershock and 1,792 lodged for the 14 November aftershock.
"As of today, we have 1,956 claims for the October aftershock and 1,836 for the November one.
"The two aftershocks were of a magnitude that allowed us to treat them as new events; in other words as separate earthquakes.
"The explanation for why those two aftershocks were considered separate events is quite technical. It has to do with their size, intensity and depth, and that they are likely to generate further damage.
"The total number of claims will reduce as we sort through them and weed out duplicates and the like. There are likely to be numerous place marker claims, which means claims lodged where no obvious damage exists but could be found on inspections and assessments after the deadline.
"We expect most claims for the aftershocks have been lodged. They are trickling in at around 20 or so a day. While people do have three months from the date of damage to lodge a claim, we expect few people will want to leave it that long.
"Any new earthquake will be treated as a new event with the claims process starting afresh.
"The Canterbury earthquake is one of the largest natural disasters this country has ever faced. For a start the 160,641 claims separate out into around 220,000 part-claims for contents, buildings and land.
"The world’s most costly insurance event ever - Hurricane Katrina at $US71 billion (NZ$90 billion) – generated around 600,000 claims.
"The Canterbury earthquake is likely to rank globally as the fifth most costly earthquake event ever for insurers, after Northridge, California, in 1994 (US$22 billion), Central and Southern Chile in 2010 ($US8.8 billion), Tokyo in 1923 (US$7.4 billion), and Kobe, Japan, in 1995 (US$4.2 billion). (Source: Munich Re. Figures inflation adjusted.)
"Meanwhile, so far EQC has paid out just under $450 million, up from $372 million a week ago.
"We have now paid out on 35,667 building claims (up from 31,647 a week ago), 25,008 contents claims (up from 22,080), and 11 minor land claims.
"Claims assessments and settlements are continuing at pace. We have now settled 20,799 claims, completed assessments for an additional 18,804, and are currently assessing a further 22,158. The total of these of 61,761 is considerably more than a third of all claims received.
"This may give some comfort to the many thousands of people with property damage we have yet to assess. The surge of well over 20,000 claims in the last week before the deadline means that we may not meet our targets of settling all claims under $10,000 by Christmas and completing all assessments by March 2011 but we shouldn't be too far away," Mr Simpson said.
END
Contact:
Jo Martin Communications Adviser
Phone (029) 978-6430
Email info@eqc.govt.nz
| Claims at 6 December (Provisional) | |
| Christchurch | 125,964 |
| Waimakariri | 11,901 |
| Selwyn | 11,688 |
| Timaru | 4,142 |
| Ashburton | 3,589 |
| Hurunui | 1,083 |
| Dunedin | 567 |
| Waitaki | 346 |
| Waimate | 235 |
| Grey | 174 |
| Queenstown-Lakes | 156 |
| MacKenzie | 149 |
| Central Otago | 95 |
| Kaikoura | 69 |
| Westland | 59 |
| Wellington | 58 |
| Marlborough | 54 |
| Nelson | 38 |
| Clutha | 33 |
| Buller | 32 |
| Southland | 28 |
| Invercargill | 26 |
| Tasman | 26 |
| Lower Hutt | 19 |
| Gore | 19 |
| Other | 91 |
| Total | 160,641 |