Christchurch Earthquake 23 December 2011 - Magnitude 5.8 then a 6.0.
Mounting claims from the Christchurch earthquake have forced AMI insurance to go to the Government for a possible bailout.
Cartoons about political and social issues in New Zealand and overseas. The cartoon has the words 'Tsunami Warning cancelled' in the centre. Above are the words 'The end is nigh... insurance running out! No more cover!' Below the word 'cancelled' are the words 'We have reinsurance!' Context - Civil Defence has cancelled a tsunami warning after a 7.8 magnitude earthquake struck off the Kermadec Islands this morning (7 July 2011) The tsunami image is used to illustrate the problems that could arise from lack of insurance in Christchurch. When their policies run out on 30 June Earthquake-hit Christchurch and Waimakariri councils are in danger of having no property insurance because as the CEO of Civic Assurance, which insures most councils, says, 'the company cannot buy reinsurance'. There was also a potential problem for home-owners when AMI Insurance, the largest insurer of homes in Christchurch, was threatening insolvency. However, AMI has announced that it has re-insurance cover for earthquakes and other natural disasters from tomorrow (1 July 2011) for the next year. The Government feared AMI Insurance's directors would wind up the company affecting a huge section of New Zealand's insurance market and derail the reconstruction of Christchurch, official documents confirm. AMI said it had doubled its cover for the year to June 2012 after three large quakes in the year to June 2011. (Stuff 30 June 2011) Quantity: 1 digital cartoon(s).
The owner of Christchurch's AMI stadium is refusing to guarantee it will insure its playing field in future, despite taking a multimillion-dollar taxpayer handout to fix earthquake damage.
The Government has confirmed it is closely monitoring the insurer, AMI, whose $1 Billion in reinsurance and capital is believed to have been exhausted by the two Canterbury earthquakes.
Radio New Zealand Economics Correspondent reports from outside AMI Stadium.
A video of a tour through the Christchurch central city Red Zone. The video includes footage of Cathedral Square, Hereford Street, the Hotel Grand Chancellor, High Street mall, Gloucester Street, Worcester Street, Latimer Square, and AMI House.
A man representing 'Chch' (Christchurch) walks a tightrope between two cliffs. Suddenly below there are piles of dollar notes from the 'AMI' and he says 'A safety net at last!' Context - Christchurch earthquake problems with insurance. Insurers are saying that they will only pay for repairs for houses in the Red zone that are destined for demolition but that are relatively undamaged. Maybe the cartoon is expressing an ironic response to AMI's 'total replacement' policy. Quantity: 1 digital cartoon(s).
The cost of insurance could rise by 20 per cent as a result of the Government bailout of AMI Insurance and the mounting cost of the Canterbury earthquakes.
Rugby World Cup 2011 (RWC 2011) Tournament partners have reluctantly announced that Christchurch will be unable to host the seven matches currently scheduled to be played at the AMI/Lancater Park Stadium in Christchurch. This follows a detailed assessing of damage to the Stadium, grounds and infrastructure caused by the 6.3 magnitude earthquake ...
A billboard on the side of the Christchurch Town Hall advertises a performance by Santana on Tuesday 22 March 2011. The photographer comments, "Due to the earthquake the previous month Carlos Santana cancelled the concert. He did return though for a concert on 17 March 2013".
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.
Text reads 'Bad news for Christchurch playing fields'. On the left is a man wearing the Canterbury colours and carrying a flag; he looks most upset about the 'AMI Stadium' being red stickered. On the right is a woman of the night in fishnet stockings and a very short skirt who looks very upset as she hears that 'Manchester Street' has been red stickered. The little Evans man in the corner says 'Red light, red carded, from the red zone'. Context - The AMI Stadium was supposed to be the venue for the Rugby World Cup in Christchurch - a decision made on 16 March was made that Christchurch was not in a position to host the RWC. With Manchester St on the city side of Bealey Ave cordoned off, street workers have been working from the residential area between Bealey and Purchas St. and residents are furious. Colour and black and white versions of this cartoon are available Quantity: 2 digital cartoon(s).
A woman in a burqa walks out of the 'Church of the Multi-denominations'. The church has a steeple and an onion dome. Context: The cartoonist says that the cartoon was drawn for a satirical piece about the rebuilding of Christchurch. Because of the number of churches damaged, including the Anglican cathedral, The cartoon suggests that there should just build one massive church on the AMI stadium site that all religions can use on their particular day....spires would be raised and lowered etc. Quantity: 1 digital cartoon(s).
Questions to Ministers 1. Hon ANNETTE KING to the Minister of Finance: When he said recently "where the Government does have some influence, we are working hard to keep prices low", which prices was he referring to? 2. DAVID BENNETT to the Minister of Finance: What are some of the likely impacts on the Government's finances of the Christchurch earthquake? 3. Hon DAVID PARKER to the Acting Minister for Economic Development: Does he stand by all his statements on economic development? 4. Dr JACKIE BLUE to the Minister for ACC: How many claims has ACC received since the tragic earthquake on 22 February and what steps has the Government taken to facilitate prompt compensation for those seriously injured? 5. Hon MARYAN STREET to the Minister of Civil Defence: What is the basis for according priority to entry of the red zone in the Christchurch central business district? 6. NIKKI KAYE to the Minister for Social Development and Employment: What support is the Government giving to non-government organisations in Christchurch affected by the earthquake? 7. Hon TREVOR MALLARD to the Prime Minister: What role did he or his department play in the decision to shift the Rugby World Cup quarter finals, from AMI Stadium to Eden Park? 8. JACQUI DEAN to the Minister of Corrections: What progress has been made toward the Government's commitment to encourage private sector investment in the New Zealand corrections system? 9. Hon DARREN HUGHES to the Minister for Tertiary Education: What specific policy changes has the Government made to increase the number of apprenticeships and other building-skills training programmes since the September Canterbury earthquake? 10. SUE KEDGLEY to the Minister of Commerce: Will he use his powers under Part 4 of the Commerce Act 1986 to call for an investigation into the dairy wholesale and retail milk market, following the release of the Ministry of Agriculture and Forestry's review of the domestic milk market in New Zealand; if not, why not? 11. CAROL BEAUMONT to the Minister of Women's Affairs: Does she support the retention of the stand-alone and independent Ministry of Women's Affairs? 12. JOHN HAYES to the Minister of Agriculture: What steps has the Government recently made to progress agricultural greenhouse gas research?