Review of reopened EQC claims finds a myriad of missed damages

Review of reopened EQC claims finds a myriad of missed damages | Insurance Business

Review of reopened EQC claims finds a myriad of missed damages

A review of more than 6,000 reopened Earthquake Commission (EQC) insurance claims has found a myriad of missed damages that could potentially result in a mountain of payouts, Stuff.co.nz reports.

In the claims reopened in the year to May this year, almost 40% were related to damages unnoticed during EQC’s assessments while 18% were related to defective workmanship.

The rest revolved around disputes over the way claims were settled as well as administrative issues.

Read more: Owners of quake-damaged home demand court funding

EQC explained that customers reopened claims mainly because they found defective repairs, missed damage on inspected elements such as their property’s foundations, or new damage on elements that had not been inspected at all such as drainage.

The earthquake insurer had already spent more than $450 million on re-repairs but is still expected to deal with more than 20,000 second-time-around claims.