It's business as usual for North Island people with vehicles or property insured with AMI.
The company has asked the Government for a possible $500 million bailout if claims from the second Christchurch earthquake top $600 million. The arrangement would extend for five years and give all AMI customers certainty their
claims would be paid, executive manager Matthew Cody said.
Wanganui's AMI branch is in Victoria Ave, with about nine staff, and Mr Cody said 15 to 18 per cent of district residents would have homes and vehicles insured with it.
Asked if anxious policy holders had been ringing to make sure their claims would be paid, a Wanganui staffer said locals had been more concerned for the workers' future.
"Wanganui people are so lovely," the staffer said. "They were ringing up asking if we were okay, and giving us boxes of chocolates."
Mr Cody said the company was owned by its policy holders, and insured the houses and vehicles of 35 per cent of Christchurch people. It had $600 million ready for claims against the first Christchurch quake, totalling $450 million.
It had the same amount available for the February 22 jolt, but that might not be enough. If it was not, the company would take only as much of the bailout as it needed to pay out policy holders.
It had another $1 billion available against a third catastrophe happening before June 30, and more hundreds of millions should there be a fourth.
On its future, Mr Cody said the Government input could be converted later into part ownership. Or the company could buy the Government out or find another equity partner - or sell up altogether.
It will be unclear for a while how much it will need to pay out on the second quake. That partly depends on how much it will cost to remediate land or relocate and how much the Earthquake Commission will put in.
One thing was certain, Mr Cody said, all insurance premiums would go up, not just those in Canterbury.
AMI is the largest New Zealand-owned fire and general insurance company. It has 73 branches and 830 staff and made a $31 million profit last year.