- The Earthquake Commission (EQC) has given itself six weeks to classify a final “bucket” of Canterbury earthquake claims, the Insurance Council says.
EQC must refer insurance claim for damage over $100,000 – known as over-cap – to private insurers.
Insurance Council chief executive Tim Grafton said EQC advised the council it would confirm whether the 300 claims still to be classified were under or over cap by the end of June.
Once the claims were classified, private insurers would theoretically know the full extent of their liability, Grafton said.
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