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Earthquake Claims Pattern (Canterbury + Kaikoura) 2016 Presentation – Auckland, Wellington + Webinar
Wednesday, March 29, 2017 - Thursday, March 30, 2017
The Canterbury earthquakes are the most significant recent disaster to affect New Zealand, and one of the most heavily insured disasters globally. Settlement of insurance claims is well progressed but is not yet completed. There are some remaining risks and uncertainties for some aspects of the claims.
In November 2016 the Kaikoura earthquakes were felt with major damage seen locally and further afield including Wellington.
This is an update of a similar presentation given in 2015 and 2016. It outlines the patterns of claim payment and development of claim estimates over six years to December 2016 in aggregate as well as the distribution across insurers (shown anonymously). The claims patterns are useful for monitoring insurers’ experience and may also be of use for future disasters.
Presenter: Robert Cole from the Reserve Bank of New Zealand