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New claim process for Kaikoura quake

NZ Newswire logoNZ Newswire 13/12/2016

Insurers and the Earthquake Commission have teamed up to simplify the claims process for those whose homes were hit by last month's Kaikoura earthquake.

The agreement means private insurers will assess contents and building claims while EQC will assess land claims for those affected by the 7.8-magnitude quake on November 14.

"This will deliver efficiencies for everyone by reducing double handling and speed up settlements," said Insurance Council chief executive Tim Grafton.

Under the approach, private insurers will act as EQC's agents and receive, assess and settle home and contents claims for earthquake damage from their own customers, including those claims that are under the $100,000 EQC cap.

EQC chief executive Ian Simpson said the experience gained after settling hundreds of thousands of claims in the wake of the Canterbury earthquakes and other quakes since then was behind the change.

"The new approach will be more efficient and will mean we can make the best use of the country's loss adjusting expertise to deliver a better result for customers," he said.

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