Christchurch author says insurance industry has failed city
Audio, Radio New Zealand
Two years on from the Christchurch earthquakes, a local author says the insurance industry has failed in its response to the disaster.
Two years on from the Christchurch earthquakes, a local author says the insurance industry has failed in its response to the disaster.
The insurance company, Tower, has strongly criticised the time it's taking to settle Canterbury earthquake claims and says the insurance system for handling such disasters is broken.
Insurance premiums look set to rise by up to a third and even more to meet the cost of the Christchurch earthquakes and other disasters overseas.
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?