Christchurch City chases Aon for $528M damages, adding to Lyttelton Port suit

Mon, 30 Oct 2017

By Jonathan Underhill Oct. 30 (BusinessDesk) - Christchurch City Council (CCC) has invoked the Arbitration Act to pursue a claim against Aon New Zealand for $528 million in damages, saying the insurance company's behaviour limited its settlement of earthquake claims. The council declined to comment on the claim, with a spokeswoman citing confidentiality requirements in s.14B of the Arbitration Act 1996. But details of the dispute are included a quarterly report to the US Securities and Exchange Commission from the insurance broker's pare...

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