November deadline for Kaikoura earthquake claims

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Stuart Stock, an insurance law specialist at White, Fox & Jones, says the clock is ticking for Wellington building owners with unresolved Kaikōura earthquake insurance claims as the six-year statute of limitations expires on November 14.

Commercial building owners need to act quickly to protect their rights if they want any hope of recovering insurance payments for Kaikoura earthquake damage, according to an insurance law specialist.

Stewart Stock, of the White, Fox & Jones law firm, said the statute of limitations provides a six-year window for most civil lawsuits, including against insurance companies, to go to court.

November 14 marks six years since the 7.8-magnitude earthquake caused extensive damage to buildings across central New Zealand.

In Wellington alone, the earthquake caused about $1.5 billion in insured losses, mostly from commercial buildings, but many of Wellington’s claims have not been resolved or even pursued, Stock said.

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After November 14, he said, the building’s owner may lose the ability to enforce his earthquake damage claim, a potential loss of millions of dollars.

“It’s not just theory, insurance companies can use this defense. We are currently dealing with lawsuits against two separate insurance companies that are both using the statute of limitations as a defense.”

Stock said that many owners do not understand that the limitation window applies even if they are in the process of trying to resolve a claim with their insurance company without going to court, and even if insurance companies have indicated they may accept the claim.

“Claimants who know the limitation period may worry that filing it with their insurance company will jeopardize negotiations. But all insurers are well aware of the relevant dates.”

An extension of the period could have been negotiated, Stock said, but there were strict rules on how it was done and documented.

In practice, to be effective, any extension must be approved and documented before November 14, 2022.

University of Canterbury/Quickcore/Staff

A simulation shows how the Kaikoura earthquake moved across the country before causing Wellington’s offices to vibrate, including a call center in the Hoot Valley, which was captured by CCTV.

Before filing a lawsuit, Stock said, building owners must file insurance claims and prepare expert reports, a process that itself can take months.

After the Canterbury earthquakes, 1,349 separate claims were filed in Christchurch High Court against insurance companies (including the EQC) for unpaid earthquake claims. Of these, 296 were filed in the four months before the statute of limitations expired.

By comparison, Stock said there was only one lawsuit filed by his company in Wellington High Court against an insurance company related to Kaikoura earthquake damage.

“It is inconceivable that all damages arising from the Kaikoura earthquake have been assessed, quantified, and insurance claims filed, accepted, settled and paid in this single dispute only.”

He said there is no one-size-fits-all when it comes to insurance claims, so building owners should seek their own professional legal advice even if, and especially if they are currently negotiating directly with their insurance company.

“However, time is ticking. Wellington building owners must act immediately to maintain any claim they may have against their insurance company for damage caused by the Kaikoura earthquake.”

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