The Government could face claims costs of as much as $1 billion, according to Finance Minister Bill English, after announcing support of up to $500 million for AMI Insurance.
The Government has unveiled what it calls "a $500m back up financial support package" for AMI Insurance to give policyholders certainty
and to "ensure an orderly rebuild of Christchurch in the aftermath of the two earthquakes."
Finance Minister Bill English said the support package would only be called on as a last resort if AMI's own reserves have been exhausted - "unless the Crown believes it is in the public interest to take control sooner."
Do you support the Govt's $500m AMI support package? Here is the latest selection of Your Views:
