Canterbury claims hit $13bn: ICNZ

Private insurers have now paid out more than NZ$18bn ($13bn) to
settle claims from the Canterbury earthquakes of 2010 and 2011,
according to the Insurance Council of New Zealand (ICNZ).
The ICNZ said 94 percent of commercial claims, worth some
NZ$9.75bn, have been fully settled, along with 93 percent of all
residential property claims, valued at NZ$8.6bn.
ICNZ chief executive Tim Grafton said private insurers could
expect to have the vast majority of claims settled by the end of
the...