Please be advised that the Christchurch office reopened on
Thursday 29 December and will be open during normal business hours for the
remainder of the holiday break.
Welcome to the final earthquake update for the year. MAS would like to
advise you that our call centre and local Christchurch office will be open
during the holiday break – please call 0800 800 627 should you need any
As 2011 comes to a close, we look back on a year marked by natural
disasters in New Zealand and abroad. There were moments for solemn
reflection when our neighbours in Queensland faced catastrophic floods at
the start of the year. Disaster struck Christchurch in February – and we
continue to mourn the tragic loss of 181 lives. As the aftershocks
continued at home, the world’s fifth largest quake since 1900 set a tsunami
on a path of destruction in north-east Japan.
MAS has strived to stand with and support our Members through the
devastating events in Canterbury, the Hawkes Bay floods and in recent days,
the state of emergency in Nelson. The Christchurch earthquake events were
as unprecedented from a claims perspective as they were for our affected
Members, and our call centre team worked with diligence and compassion to
manage the volume of calls and put processes in place to progress
While the toll of loss and disruption is immeasurable, these events have
major financial impacts for New Zealand, and as a result the insurance
industry continues to be among the most affected areas of business.
According to the Reserve Bank, the total estimated cost of property-related
insurance claims from the Canterbury earthquakes is currently around $30
billion. The below pie chart from the November 2011 Financial Stability Report shows how
insurance cost breaks down:
to this breakdown, the EQC Fund now totals $7.5 billion, within an
additional $5.1b from EQC reinsurance, while $14.7b (or nearly half of the
total cost of property-related insurance claims) comes from private
progress that has been made around land safety in the CBD red zone,
Christchurch's earthquake authorities have released maps showing how the
inner-city red zone cordon has shrunk since the February earthquake.
Recovery Authority (Cera) chief executive Roger Sutton said on 14 December
that he hoped the red zone would be opened to the public by April
may be interested to view how the cordon has changed. Cera has published
maps showing the shrinking red zone which you can view here
MAS has settled $60m in claims across all events, of which $35m has been
for domestic houses. 437
473 domestic Beca managed properties have been categorised, of which there
have made every effort to pay contents claims as quickly as possible. We
are currently managing 21
contents claims – out of an initial notification of several hundred.
continue to keep us informed of any changes to your domestic claims, and if
you have not yet lodged a contents claim, please do so as soon as possible
by phoning us on 0800 800 627
or email us at firstname.lastname@example.org.
Our next update will be released on 18 January 2012 – all the staff at MAS
wish you a happy holiday season.