Government reviewing EQC
Wed, 19 Sep 2012 8:57a.m.
By 3 News online staff
The Government has announced a review of the Earthquake Commission after it effectively ran out of money paying for the Christchurch quakes.
That failure has left the Government exposed to big financial obligations in the event of another big shake.
The Insurance Council is welcoming a review of the Earthquake Commission which'll look at its structure, how it's financed, and what it insures.
Earthquake recovery minister Gerry Brownlee says the review is necessary.
“What we’ve gotta do now of course is look at what happens in a future event,” he told Firstline this morning.
But the review's been criticised for not looking at the delays in settling claims after the Canterbury quakes.
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28/09/2012 8:34:39 p.m.
Thats because EQC completed all the painting decorating before any foundation or pile work were completed so they had to repay for the decorating once the repilers came to do the job that should of been completed frist place.
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