New Zealand Local Weather Forum
Climate and Science => National Earthquakes => Topic started by: Suezy on March 29, 2012, 05:47:12 PM
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Insurance companies fail performance survey
MARTA STEEMAN Last updated 14:50 29/03/2012
More than half of the 400 businesses surveyed considered the insurers' performance was poor.
The survey was commissioned, and released today, by Vero, the second-biggest general insurer.
It was undertaken between January 31 and February 3 by phone.
The Government and the Canterbury Earthquake Recovery Authority scored highest but did not reach a 50 per cent pass mark.
The Christchurch City Council was only slightly in front of the insurers.
Insurance companies scored poor or very poor by 55 per cent of the 400 respondents and won only a 20 per cent rating of very good and good.
The city council ranked poor and very poor by 46 per cent and only 22 per cent scored it good or very good.
The Government gained a 47 per cent good and very good mark and 16 per cent poor and very poor rating.
However, 33 per cent of businesses were ''neutral'' on the Government's performance.
Cera received a 38 per cent good and very good score, with 36 per cent neutral and 17 per cent considering it poor or very poor.
Businesses showed optimism about the local economy in the medium to longer term but now believe the rebuild will take longer than they first thought.
Only 31 per cent expect the economy to get better in the next six months, but 78 per cent expect the economy will be in a better space in two to five years.
Vero chief executive Gary Dransfield told a group of Christchurch business leaders and MPs at the presentation of the survey that a successful disaster recovery planned required strong leadership.
He would have preferred ''obviously'' a better community perception of insurance companies.
''However, I accept there is community frustrations at the pace of claims handling and reinstatment.''
The processes were complex and there was no lack of commitment on their claims management staff to meet the needs of customers who had suffered in the earthquakes.
The research highlighted the urgency for insurers and the Government agencies involved to resolve their difference in several matters, including the way they assessed damage.
The Canterbury quakes were one of the costliest and most complex disasters being managed in the world.
He reminded the audience that the only way the construction of Canterbury would be completed and New Zealand's economy would grow would be ''through a productive partnership between insurers and Government in New Zealand''.
While it was not unusual to have several parties involved in insurance, New Zealand was unique in having the Government as an insurer through the Earthquake Commission.
- © Fairfax NZ News
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If I was cynical, I would say that these were the standards responses from an underperfoming organisation trying to recover from the embarassment of being found out.
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