Southern Response issued a media release yesterday advising that although their AMI policy obligations do not cover land repairs, they can manage land repairs in most cases. The advantage to policy holders is that damage to land and buildings can be worked on together.
The full media release, which explains the basics of how this will be done, is reproduced below. The original is here.
Published 14 March 2013
EQC offers natural disaster insurance coverage for your home and contents as well as some coverage of your land. This information relates to EQC land cover and EQC settlement payments to the owners of damaged residential land.
Your AMI policy does not cover damage to land, but if your land needs remediation or preparation of the land under the building platform before repairs or rebuilding can occur, we can generally manage it for you (in all but the most serious cases).
Rather than waiting for EQC to give you a settlement payment for your land remediation, if you assign your EQC land claim to us using a Deed of Assignment (and give us or commit to us your settlement payment if you have already received it from EQC) we can address the impacts of land damage at the same time as we build your house. We will address the building platform to ensure that when we reinstate the house, it will be to a code compliant standard. We may also do other incidental work required to remediate your land at the same time.
There is no requirement to pass over your EQC land claim or land payment to Southern Response, but if the payment is required to remediate the land for the building platform and you do not want to do this, we will not be able to progress your build.