Hundreds of quake claims still going over cap

N.Zealand:

About 120 homeowners a month are starting earthquake repairs from scratch as their claims are finally referred to insurance companies.

Hundreds more are likely as 1700 of the most complex and contentious damage claims still sit on the Earthquake Commission's (EQC) books, meaning homeowners may not begin the repair process until six years after they were hit. 

Figures from the Insurance Council and the Government show that last year more than 1400 homes were adjudged over EQC's damage liability cap of $100,000 plus GST. More went over cap in the second half of the year than the first half.

Insurance companies inheriting these claims are in most cases starting assessments again.

In 2014, Southern Response chairman Ross Butler said 400 over cap referrals from EQC in six months strained resources. IAG chief executive Jacki Johnson last year said ongoing over cap cases could be "very disruptive" to its build programme.

http://www.stuff.co.nz/national/78143101/Hundreds-of-quake-claims-still-going-over-cap