High Court Earthquake List HC Litigation List & LINX Case Summaries
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Initial Briefing for the Purposes of the Inquiry
INITIAL BRIEFING FOR THE PURPOSES OF THE INQUIRY - History of the Earthquake Commission 26 October 2018 TABLE OF CONTENTS INTRODUCTION 1 1929 – 2009 1 Government response to the 1929 and 1931 earthquakes 1 Earthquake and War Damage Act 1944 2 Review and reform of the 1944 Act 3 Earthquake Commission Act 1993 (EQC Act) 3 Preparedness following the EQC Act 4 EQC claims mostly cash settled 5 Crown Entities Act 2004 6 2010 6 Position prior to the first Canterbury earthquake 6 4 September 2010 earthquake 7 Residential building claims 7 Residential land 8 Progress with Canterbury claims 8 Managing liabilities 9 EQC’s role 10 2011 10 Cyclone Wilma 10 22 February 2011 earthquake 10 EQC’s additional roles 11 Rapid Assessment 11 Emergency repairs 12 13 June 2011 earthquake 12 Canterbury Earthquake Recovery Authority - Zoning and Crown offers 13 Additional land remediation 13 High Court Declaratory Judgment – Reinstatement of cover 13 Progress with Canterbury claims 13 New Technical Categories (TC1, TC2 and TC3) 14 Relationship with private insurers 14 Staff and contractors 15 23 December 2011 earthquake 15 Residential land claims 15 Statement of Intent 2011-14 16 Reviews of EQC 16 2012 17 Progress with Canterbury claims 17 Canterbury Earthquake (Earthquake Commission Act) Order 2012 18 Royal Commission of Inquiry into Building Failure Caused by Canterbury Earthquakes 19 Unclaimed damage – Ministerial Direction 19 Nelson floods 19 Residential land damage 19 Managing liabilities 20 Reviews of EQC 20 Review of EQC’s 2012 Christchurch Recruitment Processes -
Fire & General Insurance Providers
FIRE & GENERAL INSURANCE PROVIDERS COMPANY FINANCIAL STRENGTH RATING RATING AGENCY AIG Asia Pacific Insurance Pte Ltd A A M Best A+ Standard & Poor’s AIG Insurance NZ Ltd A Standard & Poor’s Allianz Australia Insurance Limited AA- [*] Standard & Poor’s Ando (UK) Insurance Group Limited Refer Lloyd’s Ando Insurance Group Limited A- [*] A M Best (underwritten by Hollard Insurance Company Pty Ltd) AWP Services New Zealand Limited A- [*] A M Best trading as Allianz Partners (underwritten by Hollard Insurance Company Pty Ltd) Berkshire Hathaway Speciality Insurance A ++ A M Best (incl. BHSI Facilities) AA+ Standard & Poor’s Chubb Insurance New Zealand Ltd AA- Standard & Poor’s Classic Cover (underwritten by Lumley a Refer NZI a division of IAG New business division of IAG New Zealand Ltd) Zealand Ltd Cover-more (NZ) Ltd Refer Zurich New Zealand Dealersblock Insurance (Bus) Refer NZI a division of IAG New Zealand Ltd Delta Insurance NZ Ltd Refer Lloyd’s Delta Property Insurance Limited Refer Lloyd’s Dual New Zealand Ltd Refer Lloyd’s Ed Brokering LLP Refer Lloyd’s GT Insurance Refer Allianz Australia Insurance Limited HDI Global SE, Australia A+ [*] Standard & Poor’s Insurance Wholesale Limited Refer Lloyd’s International Underwriting Agencies Ltd Refer Lloyd’s, NZI a division of IAG New Zealand Ltd:-as advised Lumley, a business division of IAG New Refer NZI a division of IAG New Zealand Ltd Zealand Ltd NZI a division of IAG New Zealand Ltd AA- Standard & Poor’s (Incl. NZI Standard) NZI and Vero Insurance Refer NZI a division of IAG New Zealand -
Earthquake Insurance: Lessons from International Experience and Key Issues for Developing Earthquake Insurance in the Prc
OBSERVATIONS AND SUGGESTIONS Resident Mission in the PRC 24 June 2008 EARTHQUAKE INSURANCE: LESSONS FROM INTERNATIONAL EXPERIENCE AND KEY ISSUES FOR DEVELOPING EARTHQUAKE INSURANCE IN THE PRC Abstract z Catastrophe (including earthquake) insurance can help relieve the financial burden on the government to fund relief and recovery of the affected population by spreading the risks and costs of disasters. z Pricing of catastrophe insurance policies can provide proper incentives and thus help limit future damage from natural hazards by influencing investment and land development decisions. z International experience suggests key aspects for successful catastrophe insurance include (i) affordability to the insured; (ii) universal coverage; (iii) financial sustainability; and (iv) incorporation of measures to limit or avoid damage. z Based on international experience and country-specific issues, we recommend that (i) the Government establish comprehensive and compulsory catastrophe insurance instead of just earthquake insurance; (ii) both central and local governments share contributions to a catastrophe fund; (iii) risk information should be developed, synchronized, and shared across government agencies, commercial insurers, and the general public; and (iv) disaster management should be incorporated into development planning and project approval. 地址:中国北京复兴门内大街 156 号 电话:(010) 66426601 北京招商国际金融中心 D 座 7 层 100031 传真:(010) 66426606/66426608 I. Introduction 1. The earthquake that struck Sichuan Province on 12 May 2008 left more than 88,670 people dead or missing, injured 374,000 people, and destroyed 5.5 million buildings. Total property damage from the earthquake is estimated as $20 billion, but only 5% of that damage was insured. 2. The low rate of insurance and high levels of physical damage has revived interest in earthquake insurance and in catastrophe insurance more generally. -
Reassurance for Your Refuge
Earthquake Insurance for Homeowners Reassurance for your refuge. Get earthquake insurance that’s flexible and affordable. EarthquakeAuthority.com Homeowners insurance doesn’t cover earthquake damage. But we do. It’s not a matter of if, but when, the next damaging You need a separate earthquake policy. earthquake will strike. If you don’t have a separate earthquake insurance Scientists say there’s more than a 99% chance of one policy, you must pay to repair or rebuild your home, or more magnitude 6.7 or greater earthquakes striking to replace your belongings, and to live elsewhere our state. until repairs are completed. After an earthquake, the government won’t bail you out. Government assistance is not always available after an earthquake. If assistance is offered, first you must In other words, you will pay all qualify. While grants are capped at less than $34,000, recovery costs...YOURSELF. the average grant per household historically has run significantly less than that amount. And government loans, which must be repaid, are capped at $200,000 for homeowners. Live more. Worry less. Your peace of mind is priceless. An insurance policy from CEA helps you to rebuild, You’ve worked hard to buy your home and fill it with the repair, and replace property things you love. To recover from a damaging earthquake, you’ll want to damaged by an earthquake. repair or replace what matters most. Take control of your recovery with these flexible CEA policy features. More coverage choices. More Coverage Choices CEA offers expanded coverage choices for your home and valued possessions, and provides financial protection if you need to live elsewhere More Coverage Choices More Deductible Options after an earthquake. -
Register of Pecuniary and Other Specified Interests of Members of Parliament: Summary of Annual Returns As at 31 January 2012
J. 7 Register of Pecuniary and Other Specified Interests of Members of Parliament: Summary of annual returns as at 31 January 2012 Fiftieth Parliament Presented to the House of Representatives pursuant to Appendix B of the Standing Orders of the House of Representatives REGISTER OF PECUNIARY AND OTHER SPECIFIED INTERESTS OF MEMBERS OF PARLIAMENT: SUMMARY OF ANNUAL RETURNS J. 7 2 REGISTER OF PECUNIARY AND OTHER SPECIFIED INTERESTS OF MEMBERS OF PARLIAMENT: SUMMARY OF ANNUAL RETURNS J. 7 MISTER SPEAKER I have the honour to provide to you, pursuant to clause 18(3) of Appendix B of the Standing Orders of the House of Representatives, a copy of the summary booklet containing a fair and accurate description of the information contained in the Register of Pecuniary and Other Specified Interests of Members of Parliament, as at 31 January 2012. Dame Margaret Bazley DNZM, Hon DLit Registrar of Pecuniary and Other Specified Interests of Members of Parliament 3 REGISTER OF PECUNIARY AND OTHER SPECIFIED INTERESTS OF MEMBERS OF PARLIAMENT: SUMMARY OF ANNUAL RETURNS J. 7 Introduction Since 2006, members of Parliament have been required to register certain personal interests in 13 categories set out in clauses 5 to 8 of Appendix B of the Standing Orders of the House of Representatives. These are listed below. Items 1 to 9 require a ‘snapshot’ of interests as at 31 January 2012. Items 10 to 13 cover the period from the member’s previous return, or for new members, from polling day on 26 November 2011 until 31 January 2012. This booklet summarises the -
Sample of Registered Organizations 2017
Sample of registered organizations 2017 AARNet ABF Taskforce Aboitiz Equity Ventures, Inc. ABS ACCC Accident Compensation Conciliation Service Accounting & Corporate Regulatory Authority ACIC ACT Government Transport Canberra & City Services Adelaide Airport AFP AGD AHPRA ALFRED HEALTH AMP ANZ APRA-AMCOS APT Travel Group Arnold Bloch Leibler Asahi Beverages ASE Global Asian Development Bank ASIC Asq Project Management AT&T ATO Atos Attorney-General's Department AU Dept of Finance AUDIT OFFICE OF NEW SOUTH WALES Aurizon AUS DEPARTMENT OF HUMAN SERVICES AUSTL ATTORNEY GENERAL DEPT AUSTL DEPARTMENT OF EDUCATION & TRAINING AUSTL DEPT OF DEFENCE AUSTRAC Austrade Australia & New Zealand Banking Group Limited Australia Criminal Intelligence Commission Australia Health Practioner Regulation Agency Australia Post Australian Compettition and Consumer Commission Australian Defence Simulation and Training Centre AUSTRALIAN DEPARTMENT OF FINANCE Australian Department of Immigration and Border Protection Australian Dept of Education Australian Federal Police Australian Financial Security Authority Australian Health Practitioner Regulation Agency Australian Radiation Protection and Nuclear Safety Agency Australian Red Cross Australian Securities Exchange Australian Taxation Office Australian Unity AustralianSuper Axicorp AxiCorp B Online Learning Pty Ltd Ballance Agri-Nutrients Bank Negara Malaysia Bank of Thailand Barwon Health Bay of Plenty Regional Council BDO Beca Bendigo Health Benevolent Society Bingo Industries BlueFocus BMC Software BOM BOS -
Standard Homeowners Policy Sample 2016
CALIFORNIA EARTHQUAKE AUTHORITY BASIC EARTHQUAKE POLICY—HOMEOWNERS DECLARATIONS POLICY NUMBER: POLICY PERIOD: 12:01a.m. Pacific Time FROM: TO: NAMED INSURED AND MAILING ADDRESS: The dwelling covered by this policy is located at the above address unless otherwise stated: We provide coverage at the indicated limits of insurance, subject to the Deductible Clause: COVERAGE: LIMIT OF INSURANCE: A. DWELLING Combined Single Limit: B. EXTENSIONS TO DWELLING $ Same as Companion Coverage A Limit C. PERSONAL PROPERTY $5,000 to $200,000 D. LOSS OF USE $1,500 to $100,000 OTHER COVERAGES: BUILDING CODE UPGRADES $10,000 to $30,000 POLICY DEDUCTIBLE: $__________________ (5% to 25% OF THE “COVERAGE A: DWELLING” AND “COVERAGE B: EXTENSIONS TO DWELLING” COMBINED SINGLE LIMIT OF INSURANCE) (Note: Please read the DEDUCTIBLE CLAUSE of this policy.) POLICY PREMIUM: $ POLICY MODIFICATIONS REQUESTED BY YOU Your Policy Premium reflects a Hazard Reduction Discount of ___% (5%, 10%, or 20% or 23% (Mobilehome)) Endorsement 03A – Coverage for Exterior Masonry Veneer Endorsement 04A – Coverage for Breakables NOTE: THIS POLICY MAY BE SURCHARGED (Please read the Surcharge Clause of this policy) Mortgagee/Lienholder/Additional Insured (Name and Address): PLEASE READ YOUR POLICY BEQ-3B (01-2016 edition) Page 1 of 25 TABLE OF CONTENTS IMPORTANT NOTICES ................................................................................................................................................... 3 AGREEMENT ................................................................................................................................................................... -
Take a Load Off Fannie: the Gses and Uninsured Earthquake Risk
CONTENTS Executive Summary 1 Takeup Rates for Earthquake Insurance 2 Mapping Earthquake Risks 4 GSE Mortgages in Earthquake-Exposed Counties 6 Estimating the GSEs’ Uninsured Mortgage Risk 7 Transferring GSE Earthquake Risk 8 Conclusion 9 About the Authors 9 Appendix I: Counties Exposed to Earthquake 9 Figure 1: U.S. Counties Exposed To Substantial Earthquake Risk 5 Table 1: Estimated Insured Losses For Top 10 Historical Earthquakes 4 Table 2: GSE Unpaid Principal Balance In Earthquake-Exposed Counties, By State ($M) 6 Table 3: R STREET POLICY STUDY NO. 151 Estimated Uninsured Earthquake Risk Of GSEs, 2016 ($M) 8 September 2018 The primary cause of this disparity is that, unlike those oth- er risks, earthquake coverage is not required to secure the collateral of mortgages owned or guaranteed by the govern- TAKE A LOAD OFF FANNIE: ment-sponsored enterprises (GSEs) known as Fannie Mae THE GSES AND UNINSURED (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation), which EARTHQUAKE RISK account for 21 percent and 12 percent, respectively, of the $14.99 trillion U.S. mortgage debt outstanding.3 R.J. Lehmann and Daniel Semelsberger This exposure should be of concern to policymakers. Ten years ago this month, Fannie Mae and Freddie Mac both EXECUTIVE SUMMARY were taken into conservatorship by their regulator, the Fed- eral Housing Finance Agency (FHFA), and were granted a arthquakes are among the most devastating and eco- $187 billion capital injection from the U.S. Treasury Depart- nomically destructive natural disasters, with the 1994 ment.4 While each of the GSEs has subsequently repaid its Northridge earthquake still ranking as the fifth-cost- debt to the government, including a 10 percent return on liest disaster in U.S. -
2013 Celebrating Life
FIDELITY LIFE ASSURANCE COMPANY LIMITED COMPANY LIFE ASSURANCE FIDELITY ANNUAL REPORT CELEBRATING LIFE ANNUAL REPORT 2013 2013 THE NEW ZEALAND LIFE COMPANY THE NEW ZEALAND LIFE COMPANY By providing insurance and savings solutions for New Zealanders, Fidelity Life helps keep Kiwi families strong today and tomorrow. STEWARDSHIP FIDELITY LISTENING We make wise and prudent use We retain our original & RESPONDING of the resources entrusted to focus to ‘keep faith’ in We engage in dialogue to us for safe keeping times of need create value through our relationships ANNUAL REPORT 2013 The information in this r eport is current as at 30 June 2013. All amounts are in New Zealand dollars, unless otherwise specified FIDELITY LIFE ANNUAL REPORT 2013 FIDELITY LIFE AnnuAl report 2013 CONTENTS 02 Significant events 03 Chairman’s report 07 Case study 09 CEO’s review 11 Claim statistics 14 Statutory and other disclosures 16 Statement of corporate governance 18 The boardroom 19 Financial statements 92 Independent Auditors’ report 94 Appointed Actuary’s review FIDELITY LIFE annua L r EporT 2013 1 THE NEW ZEALAND LIFE COMPANY of hase ele rc ctr pu on es sets ic c as sys u un ce te n o n m de n ra la r n su u w a n nc r e i h it if e e in if d l l g y r it l e e W d i o F t $ p 1 r e SIGNIFICANT EVENTS 0 m 0 x M i a u t OF THE YEAR n m f i r o e r e t i n f s t h a a c e o e t r m f f c o r e n r i s p t e t x t % i e c m 5 n e 2 e e d s 40 years since f rst policy written 2 FIDELITY LIFE annua L r EporT 2013 CHAIRMan’S REPORT IAn Br ADDoCK A MILESTONE YEAR FOR FIDELITY LIFE; 25% IMPROVEMENT IN PROFIT AFTER TAX AND THE ACQUISITION OF THE TOWER LIFE BUSINESS. -
Encouraging Homeowner Resilience Through Earthquake Insurance and Seismic Retrofit
Encouraging Homeowner Resilience through Earthquake Insurance and Seismic Retrofit OSSPAC Publication 18-01 September 25, 2018 For: THE STATE OF OREGON Mike Harryman, State Resilience Officer 2018 OSSPAC Members: Jay Raskin Chair, Public Member Jeffrey R. Soulages Oregon Seismic Safety Policy Advisory Commission Vice-Chair, Public Member After the Loma Prieta earthquake in 1989, Oregon residents Sen. Arnie Roblan demanded that the State of Oregon better address earthquake Legislative Stakeholder hazards throughout the state. The state legislature established the Oregon Seismic Safety Policy Advisory Commission (OSSPAC) Rep. Deb Boone Legislative Stakeholder in 1991 through Senate Bill 96. The Commission is a group of eighteen individuals each appointed by the Governor. They Tiffany Brown represent a variety of interests regarding public policy and Local Government Stakeholder earthquakes, including representatives of many state agencies, a Mathew Crall member each from the Oregon House and Senate, representatives DLCD of important stakeholder groups, and members of the public. The Doug Dougherty OSSPAC mission is to positively influence decisions and policies Schools Stakeholder regarding pre-disaster mitigation of earthquake and tsunami Greg Ek-Collins hazards, increase public understanding of hazard, risk, exposure ODOT and vulnerability through education, and be responsive to new Ed MacMullan studies or issues raised around earthquakes and tsunamis. Banking Stakeholder Ian Madin DOGAMI Walter McMonies Copyright 2018 by the Oregon Seismic Safety Policy Advisory Commission of the State Multifamily Stakeholder of Oregon. Excerpts from this report, except materials copyrighted by others, may be Trent Nagele reproduced for non-commercial use with attribution to the Oregon Seismic Safety Policy Structural Engineer Stakeholder Advisory Commission. -
The Geneva Reports
The Geneva Reports Risk and Insurance Research www.genevaassociation.org Extreme events and insurance: 2011 annus horribilis edited by Christophe Courbage and Walter R. Stahel No. 5 Marc h 2012 The Geneva Association (The International Association for the Study of Insurance Economics The Geneva Association is the leading international insurance think tank for strategically important insurance and risk management issues. The Geneva Association identifies fundamental trends and strategic issues where insurance plays a substantial role or which influence the insurance sector. Through the development of research programmes, regular publications and the organisation of international meetings, The Geneva Association serves as a catalyst for progress in the understanding of risk and insurance matters and acts as an information creator and disseminator. It is the leading voice of the largest insurance groups worldwide in the dialogue with international institutions. In parallel, it advances—in economic and cultural terms—the development and application of risk management and the understanding of uncertainty in the modern economy. The Geneva Association membership comprises a statutory maximum of 90 Chief Executive Officers (CEOs) from the world’s top insurance and reinsurance companies. It organises international expert networks and manages discussion platforms for senior insurance executives and specialists as well as policy-makers, regulators and multilateral organisations. The Geneva Association’s annual General Assembly is the most prestigious gathering of leading insurance CEOs worldwide. Established in 1973, The Geneva Association, officially the “International Association for the Study of Insurance Economics”, is based in Geneva, Switzerland and is a non-profit organisation funded by its members. Chairman: Dr Nikolaus von Bomhard, Chairman of the Board of Management, Munich Re, Munich. -
Artificial Intelligence for Financial and Insurance Services in New Zealand Ahumoni Me Te Inihua I Te Atamai Iahiko
Artificial Intelligence for Financial and Insurance Services in New Zealand Ahumoni me te Inihua i te Atamai Iahiko Financial and Insurance Services Partners Other AI Forum of New Zealand Research Reports: ARTIFICIAL INTELLIGENCE ARTIFICIAL INTELLIGENCE Shaping a Future FOR HEALTH IN New Zealand NEW ZEALAND (May 2018) Hauora i te Atamai Iahiko This report examines the New (October 2019) Zealand and international AI The AI Forum’s latest research industry landscapes, investigating report describes how AI promises AI’s potential impacts on to bring significant clinical, New Zealand’s economy and workforce and cost benefits society. The report identifies to the health sector, as well as key AI opportunities, in the personalise medical care. It can public, private and education help with predicting disease and sectors, that New Zealand can injury; and mine vast quantities of invest in to actively shape the literature for research insights. effects on our collective future. TOWARDS OUR ARTIFICIAL INTELLIGENCE INTELLIGENT FUTURE FOR AGRICULTURE IN An AI Roadmap for NEW ZEALAND New Zealand Ahuwhenua i te Atamai Iahiko TE ARA MŌ TĀTOU (October 2019) ATAMAI O ĀPŌPŌ Te Huarahi Atamai This report examines the New Iahiko ō Aotearoa Zealand and international AI industry landscapes for agriculture (September 2019) and investigates AI’s potential This report identifies that New impacts for New Zealand’s place Zealand urgently needs to increase in the global food value chain. its focus on the core foundations needed to operate in an AI enabled future – particularly investment, skills and talent, research, trusted data, ethics and regulation. The report also shows how AI enabled solutions can be used to improve New Zealand's wellbeing, productivity and sustainability.