EQC passes $1 billion mark

The Earthquake Commission (EQC) has paid out more than $1 billion in claims for earthquake damage to residential property since 4 September last year, Canterbury Earthquake Recovery Minister Gerry Brownlee announced today.

EQC has received nearly 370,000 claims for the 13 separate events since September, including more than 22,000 for the aftershock on 13 June.

“This shows significant amounts of money flowing to claimants,” Mr Brownlee said.

“EQC has paid an average $3 million a day, and expects that level of payment to increase significantly.”

Since last week’s announcement of residential zones EQC has been continuing with its residential building assessment work.

EQC is on track to meet the time frames set in March for the full assessment of properties. Full assessments for severe structural damage should be complete by mid-July; while all other assessments should be complete by the end of the year.

Mr Brownlee says EQC is working hard to provide certainty to Christchurch residents as soon as it can.

“EQC is close to finishing assessments of properties that are now classified as being in the residential red zone. They will then turn their attention to those in the orange zone and give people in those areas as much certainty as possible.”

The 5.7 and 6.3 magnitude earthquakes on 13 June caused further land damage in the Port Hills area (including Lyttelton). In response, EQC is currently conducting rapid land damage mapping in the Port Hills. The resultant mapping will allow EQC to triage appropriate areas and deal with urgent claims appropriately.

Teams of EQC geotechnical engineers from the Land Damage Assessment Team (LDAT), managed by Tonkin & Taylor, are physically observing land damage and recording it on maps of the area.

An overall picture of area-wide land damage will identify properties that require urgent attention. It will be followed by individual property assessments for properties with EQC claims.

“EQC anticipates 70 per cent of this mapping to be complete by the end of the week,” Mr Brownlee said.

EQC is one of a number of organisations working with the Canterbury Earthquake Recovery Authority (CERA) on rebuilding greater Christchurch and its surrounds, and supporting the welfare of its residents. For more information visit www.cera.govt.nz