Insurers will be offering additional assistance to Christchurch residents affected by earthquakes.
Policyholders of homeowners insurance in Christchurch, where many property owners face significant damage from the earthquakes, may soon have an advisory service available to them.
Insurers are getting closer to completing the plans for a new service for these individuals and families.
These companies have nearly completed the plans for the service that is intended to make it simpler for those with homeowners insurance to be able to understand and work their way through any red tape and effectively file their claims so that they can receive their payments as quickly and easily as possible.
This new homeowners insurance service is meant to address the public anger over excessive processing times.
The industry is using it to respond to the frustration that policyholders have expressed over the amount of time that it has taken to obtain answers regarding when, or even if, they will receive the needed repairs to their properties.
The company has yet to release the details of the service, as the chief execs have yet to give their final approval and sign off on the plan. According to Gerry Brownlee, the Canterbury Earthquake Recovery Minister, last month, even he had “lost patience” with the insurers and that it was critical that they step up their game.
He explained that “Things are taking too long and I don’t believe that EQC [Earthquake Commission] is the problem.” This statement was made after there was a unanimous vote by the Christchurch City Council to ask Brownlee to set up tribunal for the homeowners insurance situation, as well as an advocacy service based within the city.
The plea made by the council was made based on concerns that homeowners insurance companies were withholding on the rebuilding and repairs owed to their policyholders and that it was causing those customers undue stress.
The city’s representatives and residents are both looking forward to finding out what the final decision will be, but are looking forward to improved homeowners insurance services and the fact that insurers appear to be ready to willingly take part in this effort.