Earthquake victims win landmark settlement with EQC

The judgement clarifies EQC's obligations to homeowners affected by the Christchurch earthquakes. Photo/Getty Images
The judgement clarifies EQC's obligations to homeowners affected by the Christchurch earthquakes. Photo/Getty Images

Ninety eight Canterbury homeowners have won a landmark settlement with EQC, following a bid for a declaratory judgement in the High Court.

The settlement clarifies EQC's obligations under the Act, and removes reliance on MBIE guidelines.

Previously EQC has used phrases such as 'pre-earthquake standard' and 'like for like' when describing their obligations which created the impression that the standard EQC had to meet was something less than as when new.

This settlement clarifies that the standard required is higher.

Unlike other group actions against insurers, the group was not seeking damages, rather the aim was to clarify what EQC's obligations are under the Act.

- Newstalk ZB

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production bpcf03 at 09 Dec 2016 20:51:06 Processing Time: 10ms