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Monday, March 11, 2013

EQC flat land assessments

From the progress and updates page of the EQC website (here). EQC will take until the end of this year to assess claims for damage to land on the flat. It is expected all land claims will be paid by the end of 2014.

8 March 2013

EQC is assessing flat land damage claims – and this assessment process will continue for the rest of this year.

A huge number of variables come into play in settling a land claim, and these call on quite specialised skills. Some of these skills are in limited supply – including people capable of undertaking geotechnical evaluation of the information reported back by the assessment teams, and people with good knowledge of the local property market who can help with establishing the value of the land in question.

This doesn’t affect EQC’s target of having all assessments of all damaged land completed by the end of this year – but it does mean that it may take longer than first anticipated to begin making payments. EQC will be paying the most straightforward claims sooner than the more complex claims (such as those involving increased vulnerability to liquefaction and flooding). We’re expecting to pay all land claims by the end of 2014.

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