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Images, eqnz.chch.2010

AMI Stadium (Lancaster Park), not used since the February 2011 earthquake. It was used predominantly for rugby and cricket. We are still waiting to see what the outcome is for this stadium. Government want a new one closer to the CBD, so there is talk of this being demolished, while others want it repaired. The concrete pad lower left is ...

Images, eqnz.chch.2010

The South New Brighton jetty has been closed for 3 or 4 years (fenced off) then the fence was removed and it was "open", but nothing has happened to it since the earthquakes, but it is closed again now, although it looks like a home made sign!

Images, eqnz.chch.2010

The ticket office at Lancaster Park (AMI Stadium), not used since the February 2011 earthquake. Windows broken and door boarded up. We are still waiting to see what the outcome is for this stadium. Government want a new one closer to the CBD, so there is talk of this being demolished, while others want it repaired.

Images, eqnz.chch.2010

20161112_9961_7D2-70 The future face of Christchurch? Cultivate Christchurch is operating this urban farm in the city, about 5-10 minutes walk to Cathedral Square. Many of the buildings in this area were demolished after the earhquakes, and in the background is a new building on Kilmore Street.

Research papers, Victoria University of Wellington

We examine the role of business interruption insurance in business recovery following the Christchurch earthquake in 2011 in the short- and medium-term. In the short-term analysis, we ask whether insurance increases the likelihood of business survival in the aftermath of a disaster. We find only weak evidence that those firms that had incurred damage, but were covered by business interruption insurance, had higher likelihood of survival post-quake compared with those firms that did not have insurance. This absence of evidence may reflect the high degree of uncertainty in the months following the 2011 earthquake and the multiplicity of severe aftershocks. For the medium-term, our results show a more explicit role for insurance in the aftermath of a disaster. Firms with business interruption insurance have a higher probability of increasing productivity and improved performance following a catastrophe. Furthermore, our results show that those organisations that receive prompt and full payments of their claims have a better recovery, in terms of profitability and a subjective ‘”better off” measure’ than those that had protracted or inadequate claim payments (less than 80% of the claim paid within 2.5 years). Interestingly, the latter group does worse than those organisations that had damage but no insurance coverage. This analysis strongly indicates the importance not only of good insurance coverage, but of an insurance system that also delivers prompt claim payments. As a first paper attempting to empirically identify a causal effect of insurance on business recovery, we also emphasize some caveats to our analysis.