EQC Annual Report 2015-2016

The past year has seen the Earthquake Commission paying out nearly half a billion dollars to settle claims in Canterbury in the financial year to 30 June 2016.

EQC has now spent $9.4 billion (including claim handling expenses, excluding GST) in its response to the 2010-2011 Canterbury earthquake sequence. This sum has been financed from the Natural Disaster Fund and by the reinsurance cover EQC had negotiated prior to the earthquakes.

EQC provided $11.5 million in funding to GeoNet, New Zealand’s natural hazard monitoring system. This included an increase of $1.5 million to upgrade and develop GeoNet’s systems for monitoring earthquakes, volcanoes and other geological hazards.

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