2008: A Busy Year for EQC

Natural disasters that occurred in 2007 and 2008 made last year a busy one for disaster insurer, EQC.

Saturday 25th July 2009

EQC reports that the first six months of this year were remarkably quiet compared with last year. Only 1,003 claims were lodged with EQC during the first six months of 2009, compared with 5,072 claims during the same period last year.

Earthquakes generated the most claims during 2008, with 6,589 claims costing $13.7 million. The magnitude 6.8 Gisborne earthquake of December 2007 led the list with many claims being lodged after the New Year period. EQC deployed 70 staff to process the claims, operating two centres in the city. The first closed in May 2008 with the other closing in July.

Quake Damage at Albert Bldgs

Earthquake damage at the Albert Buildings, Peel Street, Gisborne, April 2009. Wild Land photo.

A magnitude 5.9 quake near Hastings in August generated 1,378 claims which were settled at $2 million.

Fewer claims were lodged for landslip, flood and storm damage than for earthquakes. However, the 2,251 claims cost much more at $40 million. Nationwide storms in July 2008 produced a total of 894 claims which cost $20 million. Support centres were opened in the worst affected areas of Auckland, Wellington and Blenheim, with the last centre closing in December.

[source: Ru Whenua Issue 18, Earthquake Commission ]

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