Tower Insurance slips to bigger H1 loss on quake, IT, cost
Audio, Radio New Zealand
Listed general insurance company Tower has reported a bigger first half loss on lingering Canterbury earthquake claims and a write down in its computer systrems.
Listed general insurance company Tower has reported a bigger first half loss on lingering Canterbury earthquake claims and a write down in its computer systrems.
As IAG and Southern Response's limitation periods for claims resulting from the February, 2011 earthquake nears, Christchurch lawyer Peter Woods says the current situation is a "bloody mess".
Church bells tolled around the country at exactly 12.51 this afternoon - one week on from the deadly Christchurch earthquake, which may have claimed as many as 240 lives.
The Earthquake Commission has more than doubled its estimate of how much it will pay out for Canterbury earthquake claims, from three billion dollars to seven billion dollars.
A group of angry Christchurch locals are considering legal action against one of the country's biggest insurance companies because they say their earthquake claims are taking too long to settle.
Residents of Christchurch's flood-prone Flockton Basin say a court judgment on how the Earthquake Commission handles claims based on the increased flood risk caused by the earthquakes is bitter sweet.
It's just over three weeks since a magnitude seven-point-one earthquake struck Canterbury, damaging infrastructure and destroying homes and businesses and the Earthquake Commission has already received over 75-thousand claims.
Today marks 10 years since the February earthquake claimed 185 lives. RNZ's Christchurch reporter, Rachel Graham, was at the Canterbury Earthquake Memorial site for the official ceremony and spoke to Māni Dunlop.
The government is hoping a new one-stop shop will help homeowners in Canterbury still struggling with insurance claims, but as Logan Church reports, this isn't the first initiative of its kind in the quake-rattled city.
Christchurch homeowner Bob Burnett says lengthy delays in resolving his earthquake insurance claim is destroying his finances and affecting his kids' health. He's calling for a Royal Commission into the conduct of the insurance sector.
The appointment of Christchurch MP Gerry Brownlee as National's deputy leader has been met with a chorus of outrage from some Cantabrians - who say he is responsible for lengthy delays in settling insurance claims from the Canterbury earthquakes.
The Christchurch-based insurer, AMI, says it won't be until June next year before it knows the final cost of earthquake claims, though the company's confident it won't need to draw on the government's backstop support package.
Topics - ready with the pumps at last this time, but thankfully not as much rain - so far - as feared for people in the low-lying Flockton Basin in Christchurch. Labour's proposing a special court be set up just to deal with earthquake insurance claims, as part of a policy around the Christchurch rebuild. The policy would see an Earthquake Court established to try to speed up the settling of 9,755 outstanding "over cap" insurance claims. John Banks will be gone by Friday from Parliament, at the behest of the ACT party with a gentle nudge from the Nats as well. The PM thinks it's a joke that the Civilian political party, run by Ben Uffindell and named after his satirical webite, will receive $33,000 of taxpayer funding for the coming election.
A Christchurch homeowner in a five year battle with the Earthquake Commission over the damaged house she unwittingly bought says a critical new report about EQC tells her nothing new. The 27 page review by Independent Ministerial Advisor Christine Stevenson looks at how to resolve the 3,600 claims that still haven't been settled after the 2010 and 2011 quakes. The recommendations include getting the Commission to hire more staff and to stop forcing people to use the Official Information Act to get their files. It also suggests giving EQC more power to settle the on-sold claims where people bought houses under the impression all damage had been identified and fixed. Georgina Hannafin has a home that needs $260,000 worth of repairs but EQC has offered her just $48,000.
A member of the Iwi Chairs Forum says right now iwi and hapu with interests in water that is used by Mighty River Power should talk directly with the government; A constitutional Advisory Panel member, Professor Ranginui Walker, says many Maori are worried the Treaty of Waitangi could one day be forgotten; A former Christchurch woman says she's still overwhelmed by the aroha and support shown, not only by Maori organisations, but also the general public, since the first earthquake hit Canterbury two years ago today; An Auckland hapu which has recently settled its Treaty of Waitangi claim with the Crown is planning to create new educational opportunities for young Maori; An Auckland hapu which has recently settled its Treaty of Waitangi claim with the Crown is planning to create new educational opportunities for young Maori.
The Fire Service may have announced another investigation into its response to last year's deadly February earthquake in Christchurch, but there are already claims it won't go far enough although some feel it will indicate the need for a Royal Commission of Inquiry.
Plumbers say EQC paying bills too slowly, Earthquake Commission defends its claim process, Events centre, not stimulus package, for West Coast, Harawira calls meeting to consider forming new party, Government, Auckland council split over development, Search work in Christchurch central city nears completion, Power in South Christchurch threatened by cut cable.
People who've bought houses in Canterbury since the September 2010 earthquake and are still battling with insurance companies over repairs, have been told that if they want to take the matter to court, today is their last chance. Earthquake claims specialist Lisa Taylor from the law firm Anthony Harper joins us.
The coroner has ruled the search and rescue effort at Christchurch's CTV building did not contribute to the deaths of eight people who survived the initial collapse. However Gordon Matenga criticised nearly every aspect of the fire service's response to the tragedy that claimed 115 of the 185 lives lost in the February 2011 earthquake.
Topics - A big study from Harvard and UC Berkeley has looked back into family trees, over centuries, to determine how social mobility has changed. The "Moon man" has used his claimed Christchurch earthquake predictions to defeat an Advertising Standards Authority complaint over his weather forecasting website. The Prime Minister John Key says Labour's flat performance in recent polls is because it's focusing on the wrong issues.
It's almost eight years to the day since the first Christchurch earthquake, and as anyone who lives in Christchurch knows, some insurance claims are still in dispute. Dodgy repairs are still being discovered and previously undiscovered damage is being found. Earthquake Commission minister Megan Woods says as problems emerge, people can come back and ask for re-repairs or have their home looked at. But just how much money is in the National Disaster Fund?
Thousands of people in Christchurch and around the country paused at 12.51 on Monday afternoon to mark a decade since the February 22 magnitude 6.3 earthquake which claimed 185 lives. It was 10 years ago today when an ordinary Christchurch day turned to hell for so many. But in contrast to the harrowing scenes and sounds of that day, today a large peaceful crowd gathered at the Civic Memorial Service on the banks of the Avon River under large oak trees. Reporter Sally Murphy and cameraman Nate McKinnon were there.
A review of the week's headline news including the unfolding environmental disaster in the Bay of Plenty, the Earthquake Commission expected to face tough questioning on its handling of the Canterbury earthquakes, the finance minister says more belt tightening on the way, Labour refusing to accept the Prime Minister's explanation of his Standard and Poors comments, the Greens sceptical of claims that insurgents caught by the SAS in Afghanistan have not been tortured, the only All Black team to win the Rugby World Cup gathers for the first time in 24 years and business confidence plunges.
The Government's decision to only talk to iwi and hapu with interests in water which is used by Mighty River Power is supported by a member of the Iwi Chairs Forum; A constitutional Advisory Panel member, Professor Ranginui Walker, says many Maori are worried the Treaty could one day be forgotten; A Christchurch woman says she's still overwhelmed by the aroha and support shown, not only by Maori organisations, but also the general public, since the first earthquake hit Canterbury two years ago today; An Auckland hapu which has recently settled its Treaty claim with the Crown is planning to create new educational opportunities for young Maori.
After the magnitude 7.1 earthquake struck Canterbury on 4 September 2010, most media reports claimed that no lives had been lost. But In fact, this first earthquake killed at least 3000 chickens, eight cows, one dog, a lemur and 150 aquarium fish. University of Canterbury associate professor Annie Potts, along with co-author Donelle Gadenne, wrote Animals in Emergencies: Learning from the Christchurch Earthquakes, revealing what happened to the animals during and after the series of quakes. Annie Potts will give a public lecture, 'Animals and natural disasters: Learning from recent earthquakes', on Thursday 16 March, 7pm at UC Ilam campus, Christchurch. Register to attend free at: www.canterbury.ac.nz/ucconnect
An Auckland community board wants Parliament to amend a Treaty Settlement Bill for Ngati Whatua o Orakei, to exclude a piece of land; Maori Wardens have fronted up to a researcher looking at how the Christchurch earthquake has affected emergency workers; Taranaki Maori are being called to a Treaty Update hui this weekend - to keep abreast of tribal claims against the Crown; The winner of the Golden Shears Open Women's Title for 2012 says she's keen to keep competing for a few more years yet and hopes she can inspire more wool handlers to get to her level and to prove that it is achievable.
A review of the week's news including: Accusations in a new book that the defence force misled Ministers about what it's been doing in Afganistan, the EQC more than doubles it's estimate of how much it will pay out on Christchurch earthquakes claims, more than 800 military medals worth a quarter of a million dollars revealed stolen from the Waiouru National Army Museum, strong support for a proposed coal mine on the West Coast's Denniston plateau, will the Rugby World Cup deliver a hoped for economic boost as forcast, New Zealand shotput champion Valerie Adams wins her third straight World championship and the Penquin 'Happy Feet' heads south.
More than 600 Christchurch home-owners face a wait of up to 18 months before its decided who foots the bill for earthquake repairs that could cost hundreds of millions of dollars. The problem - first revealed on Checkpoint in March - is that owners bought homes thinking all quake damage had been identified and fixed - only to find more problems that weren't addressed. The people affected cannot claim on their insurance - because the damage pre-dates them buying the house - and any grant from the Earthquake Commission is capped. EQC has publicly apologised to those affected but the Minster, Megan Woods, says it's unclear who will pay for the needed repairs.
The Devonport-Takapuna Local Board in Auckland wants Parliament to amend a Treaty Settlement Bill for Ngati Whatua o Orakei, to exclude what's called the Tamaki block of just over three hectares of land at Narrow Neck; Taranaki Maori are being called to a Treaty Update hui this weekend - to keep abreast of tribal claims against the Crown; Maori Wardens have fronted up to a researcher looking at how the Christchurch earthquake has affected emergency workers; The winner of the Golden Shears Open Women's Title for 2012 says she's keen to keep competiting for a few more years yet and hopes she can inspire more wool handlers to get to her level and to prove that it is achievable.
A lawyer acting for Christchurch home-owners short changed in earthquake settlements says a new plan announced by the government is likely to run into trouble. Last year in a landmark case, the High Court found the government's claim settlement agency, Southern Response, misled and deceived Karl and Alison Dodds. It ordered the government to pay the couple nearly $180,000. The government has now set up a package for other Southern Response claimants who settled before October 2014. Its estimated about 3000 people will be eligible to benefit. But most of them are already taking part in a class action led by Brendan and Colleen Ross. Their lawyer Grant Cameron speaks to Corin Dann.