EQC liability update
EQC have added a page to their FAQ to provide an update on their increased liabilities. The following issues are addressed:
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- How much has EQC's liability increased?
- Will the increased estimate affect EQC's ability to pay its claims?
- Will this new estimate affect the rebuild?
- Why was EQC's previous estimate so much lower?
- What are the main factors behind the increase?
- What are the implications for the Crown's finances?
- Can you rule out the figure changing again?
- Who pays if the Natural Disaster Fund (NDF) is used up?
- Who pays if there is another event?
- What does this mean for the overall earthquake damage bill?
- What does this mean for the Government's share of the earthquake damage bill?
- Will the Canterbury Earthquake Recovery Fund be enough to fund the recovery?
- What audits/checks have been or will be done on this actuarial estimate?
- What is the Government doing to allay any concerns reinsurers might have about writing cover in New Zealand?
- What does the new estimate mean for insurance in Christchurch?
- What is the size of this disaster compared to other disasters?
- What progress has been made in the earthquake recovery process?
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