“We cover more than just earthquakes”: EQC gets a new name

The Earthquake Committee has a new name – the Natural Hazards Committee Toka To Aki.

The new name is one of a series of changes to modernize the legislation governing the system and came into effect on Monday.

The new legislation reflects the Commission's role in helping prepare for and recover from a range of natural hazards – earthquakes, tsunamis, landslides and floods.

“We don't just cover earthquakes,” said the authority's chief executive, Tina Mitchell.

The government overhauled the legislation after an Environment Quality Authority review and a public inquiry in 2020 found it had not been well prepared for the Canterbury earthquakes.

“It's been a decade since the Canterbury earthquakes, and yet we've had about 50 reviews as an organization because the process in Canterbury has been really difficult for people,” Mitchell told Nine to Non.

“The financial coverage was good, but the process took a long time and was really stressful.”

The government's natural hazards insurance system, in place for nearly 80 years, provides basic coverage for damage to insured property resulting from a range of natural hazards.

Coverage under the scheme remains largely the same under the new law with some changes to clarify coverage and entitlements.

The legislation creates a clearer process for claim overrides and accounts for retaining walls, bridges and culverts, Mitchell said.

Homeowners will also have increased coverage for mixed-use buildings, such as apartments in commercial buildings.

Homeowners are eligible for this program if they have an insurance policy that covers fires. The premiums paid to insurance companies include the natural hazards insurance fee, which is the amount that homeowners pay for this coverage.

The tax, which is capped at $480, is used to pay claims, invest in and grow the fund, purchase reinsurance, and invest in science and research, Mitchell said. The size of the Natural Disaster Fund is about $300 million, and there are about $9 billion in reinsurance funds.

New Zealand has been highly rated for its reinsurance programmes, she said. “The reinsurance markets like the fact that New Zealand understands the risks they face, models them really well and does things to mitigate them.”

Sources 1/ https://Google.com/ 2/ https://www.odt.co.nz/star-news/star-christchurch/we-cover-more-just-earthquakes-eqc-gets-new-name The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos