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.
The Bank of New Zealand has set aside 60 million dollars for potential credit losses from the earthquakes in Christchurch.
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.
In quake-ravaged Christchurch businesses are tentatively restarting, and infrastructure is being restored, but there's ongoing uncertainty about job losses and how people will survive financially. Within six days of the February earthquake; the Government had introduced a subsidy scheme for businesses and their employees, as well as people who'd found themselves out of a job. Now there's growing disquiet about what will happen to thousands of Cantabrians when that support scheme finishes at the end of May.
DAVID SHEARER to the Prime Minister: Does he stand by all his statements? TODD McCLAY to the Minister of Finance: What progress is the Government making in its share offer programme to reduce debt and free up capital for priority spending? Rt Hon WINSTON PETERS to the Prime Minister: Does he believe that he has met the requirements of the Cabinet Manual to behave in a way that upholds, and is seen to uphold, the highest ethical standards in his ministerial capacity, his political capacity and his personal capacity; if so, why? Hon PHIL HEATLEY to the Minister for Social Development: What reports has she received on the latest benefit figures? Hon DAVID PARKER to the Minister of Finance: Will the recent rise in the New Zealand dollar to a post-float high on the Trade Weighted Index cause job losses among non-primary exporters and import substitution businesses? JULIE ANNE GENTER to the Minister of Finance: Does he have a plan to fund the Auckland City rail link in the upcoming Budget given that public backing for the rail project is more than twice as strong as the Government's proposed new motorway north from Puhoi? Dr JIAN YANG to the Minister for Economic Development: How is the Government recognising the importance of China for New Zealand's trade, education and tourism sectors? Hon CLAYTON COSGROVE to the Minister for State Owned Enterprises: What responsibility, if any, does he take for Solid Energy's precarious financial position? NICKY WAGNER to the Minister of Housing: How will the $320 million settlement of Housing New Zealand's insurance claim for earthquake damaged properties help achieve the Government's priority of rebuilding Christchurch? GRANT ROBERTSON to the Prime Minister: What role, if any, did he play in recommending the appointment of Ian Fletcher as Director of the Government Communications Security Bureau? MIKE SABIN to the Associate Minister of Social Development: What early results can he report from the Government's efforts to deal with welfare fraud? GARETH HUGHES to the Minister of Energy and Resources: Will he recommend returning the Crown Minerals Amendment Bill to the select committee so that the public can have a say on the so-called "Anadarko Amendment"; if not, why not?
Hon DAVID PARKER to the Minister of Finance: Does he stand by his answer on Tuesday regarding jobs "I think that the number of 170,000 may come from the initial Budget forecast for 2009, perhaps. I cannot remember the year exactly."? Dr KENNEDY GRAHAM to the Minister for Climate Change Issues: Given the recent loss of Māori Party support for his Climate Change Response (Emissions Trading and Other Matters) Amendment Bill, will he consider working with opposition parties on amendments to improve it? LOUISE UPSTON to the Minister of Finance: How is the Government's infrastructure programme contributing to building a more competitive economy? Hon DAVID CUNLIFFE to the Minister for Economic Development: Does he agree with the NZIER shadow board that "the growth outlook for the second half of 2012 looks weak and unemployment remains stubbornly high."? IAN McKELVIE to the Minister for Social Development: What announcements has she made to review Child Youth and Family's complaints process? Hon MARYAN STREET to the Minister of Health: What progress has been made in the delivery of the Prime Minister's Youth Mental Health Project announced in April of this year with an extra $11.3 million provided to support it? JACQUI DEAN to the Minister for the Environment: What reports has she received on the time taken for decisions on notified consents issued under the Resource Management Act 1991? GARETH HUGHES to the Minister of Foreign Affairs: Why did New Zealand pull out of a joint proposal with the United States to create a marine reserve in Antarctica's Ross Sea? Rt Hon WINSTON PETERS to the Prime Minister: Does he stand by the answers he gave yesterday to supplementary question 5 on Oral Question No 7 and supplementary question 3 on Oral Question No 12? NICKY WAGNER to the Minister for Canterbury Earthquake Recovery: What progress has the Government made to support repairing damaged houses and infrastructure following the Canterbury earthquakes? SUE MORONEY to the Prime Minister: Does he stand by his statement on 3News last night, on the subject of Business New Zealand's assertion that women need retraining when returning to employment after extended parental leave that "no. It wouldn't be my view"? JAMI-LEE ROSS to the Minister of Immigration: What is the Government doing to ensure that New Zealanders have first priority for jobs in the Canterbury rebuild?