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Audio, Radio New Zealand

The Earthquake Commission is insisting the current model for settling earthquake claims is the right one. That's despite a report from one of the country's largest insurers that says the system is inefficient and is having a significant impact on the timely resolution of claims in Christchurch.

Audio, Radio New Zealand

A Christchurch insurance advocate says the new Canterbury Earthquake Insurance Tribunal may finally be the solution to get unresolved claims from the 2010 and 2011 Canterbury earthquakes settled. The government has launched an earthquake insurance tribunal to try to finally resolve outstanding insurance claims from the Canterbury earthquakes. Dean Lester, who acts as a insurance claim preparer in Christchurch, told our reporter Rachel Graham the tribunal will have the power to get on and make a decision on the key sticking points, without people facing the huge cost of a high court trial.

Research papers, University of Canterbury Library

The Canterbury Earthquake Sequence (CES), induced extensive damage in residential buildings and led to over NZ$40 billion in total economic losses. Due to the unique insurance setting in New Zealand, up to 80% of the financial losses were insured. Over the CES, the Earthquake Commission (EQC) received more than 412,000 insurance claims for residential buildings. The 4 September 2010 earthquake is the event for which most of the claims have been lodged with more than 138,000 residential claims for this event only. This research project uses EQC claim database to develop a seismic loss prediction model for residential buildings in Christchurch. It uses machine learning to create a procedure capable of highlighting critical features that affected the most buildings loss. A future study of those features enables the generation of insights that can be used by various stakeholders, for example, to better understand the influence of a structural system on the building loss or to select appropriate risk mitigation measures. Previous to the training of the machine learning model, the claim dataset was supplemented with additional data sourced from private and open access databases giving complementary information related to the building characteristics, seismic demand, liquefaction occurrence and soil conditions. This poster presents results of a machine learning model trained on a merged dataset using residential claims from the 4 September 2010.

Audio, Radio New Zealand

Architect Bob Burnett is part of a class action group yet to resolve claims with Southern Response. The group argues the insurer, which was established to settle outstanding AMI claims, has systematically short-changed them. Mr Burnett said the insurer had done more damage to his home than had been done in the earthquakes. The 40 members of the class action group head to court next Wednesday.

Audio, Radio New Zealand

A Christchurch couple in a long running dispute over the insurance payout for their earthquake damaged home have reached an out-of-court settlement with Southern Response. The class action was brought on behalf of former AMI Insurance/Southern Response policyholders who believe the company misled them into settling their claims for less than their policies entitled them to. The lawyer for Brendan and Colleen Ross, Grant Cameron, talks to Max Towle about the settlement.