EQC Group Action


The EQC Action Group has settled its dispute with EQC.  Here is a link to the website that has the settlement terms.  There is a joint statement that sets out what is agreed.

  1. Insurance under the Act insures the house for replacement value, which includes the cost to reinstate a house to substantially the same condition as when new and the cost of complying with any applicable laws;
  2. EQC’s liability includes the costs to fix undamaged parts where that is affected by remediation of damaged parts;
  3. If  a house has suffered earthquake damage that includes the floor being out of level:
    1. The fact that the floor level is within the MBIE Guidance criteria is not sufficient reason for the insurance under the Act not to cover the relevelling of the floor; and
    2. If the insurance covers the relevelling of the floor, the relevelling required is determined by the Act, not by the MBIE Guidance criteria.
  4. If EQC chooses to make a cash payment rather than replace or reinstate property the payment must be the replacement value of the property and cannot rely on cluase 9(1)(a) in schedule 3 to the Act that provides: (a)

    the Commission shall not be bound to replace or reinstate exactly or completely, but only as circumstances permit and in a reasonably sufficient manner;