Latest update figures from Southern Response: 56 new claims from EQC in July. 23 rebuilds completed, 12 repairs completed, 30 cash settlements completed, total settled claims = 65 That is net progress after new claims of 9. So they are now sitting on 49.7% fully settled (7.4% rebuilt/repaired and the other 42.3% cash settlements), so they are inching along towards the 50% mark – but have been for months and given the remaining claims are rebuilds and repairs (and the harder ones at that) I see that progress will continue at a crawl. TC3 114 rebuilds/repairs completed against 1,726 required or 6.6% As a comparison IAG are at 48.8% fully settled (12.1% rebuilt/repaired and the other 36.7% cash settlements), so they are actually going faster – but building/repairing more – so have more to do. EQC have changed their website last week so we can’t see their progress in detail anymore (because they are getting to the tough claims), but approx. 23,600k properties with a building are unresolved, with approx. 9,700 of those going through Fletcher, which leaves approx. 13,900 that will be cash settled or sent to private insurers (‘overcapped’). Dear Lord, who on earth in Wellington thinks this is OK? Or even satisfactory?
Posted on: Sun, 17 Aug 2014 07:08:37 +0000
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