ICNZ has today acknowledged the release of the Review of the Earthquake Commission (EQC) by Dame Silvia Cartwright, culminating more than a year of engagement.
Commenting on the release of the review Tim Grafton, CE Insurance Council of New Zealand, says it is clear the EQC Act must be changed.
“Customers who have suffered losses must be put at the heart of any natural disaster response.
“This means customers would have a single point of accountability and responsibility for the management of their claim to bring efficiencies and remove unnecessary delays – which ultimately should be the insurer they chose.”
Mr Grafton says it also means the Government needs to have an all-of-government plan to respond to major events to avoid ad-hoc responses being foisted on EQC to carry out when they are not equipped to do so.
“Alongside our members we continue to work constructively with the EQC on how to respond to a future event under the existing Act, but it is the Act itself that needs to be changed.”
ICNZ looks forward to working with government and EQC on changes to the EQC Act that will come out of the review that is set to be undertaken next year.