By Jimmy Higgins
Executive General Manager, Claims
13 January, 2016
As we approach the five-year anniversary of the February quake in Christchurch, we’ve taken a fresh look at our numbers to see how our remaining claims are progressing.
As at 31 December 2015, we’ve now resolved 84% of our overcap domestic properties and 98% of all other residential property claims (including EQC excluded repairs).
We have finalised 93% of all commercial property damage claims and we have paid out over $4.7 billion across all claims, which represents 89% of all claims now settled.
What remains are some of the most complex claims, some of which include factors out of our control. Some of the remaining claims will be resolved quickly, but others will take longer. Our dedicated earthquake team at Vero is doing everything we can to resolve the remaining claims as quickly as possible for many customers.
Once we have assessed and quantified the claim damage, we work with the customer to find the best way to resolve the claim. Sometimes this means rebuilding or repairing damage, and in other instances it will mean a cash payment for our customers. We work closely with our customers to help them choose the best option for them.
Vero is committed to resolving all claims, and we are hopeful that we will reach our goal of resolving all our remaining claims by the end of this year.
If you have an earthquake claim enquiry, you can contact your insurance broker or adviser, or you can call Vero’s dedicated earthquake claims team on Call us0800 808 121 or AMP on Call us0508 806 2441.
Vero Insurance welcomes the announcement of an agreement with the Earthquake Commission (EQC) which will see private insurers act on EQC’s behalf and manage all claims from their own customers from the Kaikoura earthquake.
The information in this article has been compiled from various sources and is intended to be factual information only. It is not personal advice and any description of an insurance product or service is not a complete description of all the terms and conditions applicable to the particular insurance product or service. You should consult a qualified adviser for advice on whether the information in this article is suitable for your personal situation and needs. While we take reasonable steps to ensure that the information contained in this article is accurate and up-to-date, it is subject to change without notice. Vero Insurance New Zealand and its related companies does/do not accept any responsibility or liability in connection with your use of or reliance on this article.