Canterbury reinsurance claims a third of the way through, RBNZ says

Tue, 06 Nov 2012

By Paul McBeth Nov. 7 (BusinessDesk) - Insurance claims for the spate of Canterbury earthquakes are about a third of the way through with $10.8 billion paid out, according to the Reserve Bank. The Earthquake Commission has paid $3.8 billion in claims and other insurers have met $7 billion of claims, in what's estimated to be a bill in excess of $30 billion, the central bank said in its twice-yearly financial stability report. "Many significant issues affecting insurance claims are yet to be resolved and uncertainty about the total insuran...

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