NZ earthquake payouts pass $12 billion
Victims from New Zealand's Canterbury earthquake have now received more than $NZ12 billion ($A11 billion) in insurance payouts.
The Insurance Council of New Zealand on Wednesday said insurers had settled 80 per cent of commercial claims, and 66 per cent of residential claims, totalling $NZ12.1b.
That's $NZ11 million a day, council chief executive Tim Grafton says.
There's also been a reported 20 per cent drop in the number of people who have not received a settlement option or are undecided about their offers, down from 2876 in the previous quarter to 2387.
Insurers have credited the role of the Residential Advisory Service in providing independent advice in moving claims forward.
"The drop in the number of customers undecided or with no offers represents the substantial effort by insurers to progress claims that may have previously been stuck," Mr Grafton said.
He said insurers are confident that almost all major repairs and rebuilds will be completed by the end of 2016.
