NZ quake commission about NZ$1.6bn short
NEW ZEALAND’S Earthquake Commission (EQC), which is responsible for the first NZ$100,000 (US$81,600) in property damage for New Zealand homeowners, will be about NZ$1.6bn short of funds for the earthquake claims arising from the sequence of quakes that struck the Canterbury region in late 2010 and early 2011, according to the EQC’s annual report, released last week.