EQC quake payouts top $1 billion

Published: 12:18PM Monday July 04, 2011 Source: Fairfax

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The Earthquake Commission has paid out more than $1 billion - an average of $3 million a day - to householders since the September 4 quake.

Earthquake Recovery Minister Gerry Brownlee said the Commission has received almost 370,000 claims for 13 separate tremors and aftershocks since September.

There have been more than 22,000 for the June 13 quakes.

Brownlee said EQC expects the level of payment to ''increase significantly.''

EQC is on track to meet deadlines set in March for the full assessment of properties, he said.

Full assessments for severe structural damage should be finished by mid-July, and the rest completed by the end of the year.

"EQC is close to finishing assessments of properties that are now classified as being in the residential red zone,'' he said.

''They will then turn their attention to those in the orange zone and give people in those areas as much certainty as possible."

About 70% of land mapping in the Port Hills and Lyttelton, following the June 13 quakes, should be finished by the end of the week.

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