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Canterbury Health Board gets compensation

One of the largest claims as a result of the earthquakes that struck the Canterbury region of New Zealand’s South Island in 2010-2011 has been settled. Canterbury District Health Board (CDHB) has received NZ$320m (US$272m) in compensation, the full amount to which it was entitled. The amount paid equals the NZ$320m paid to Housing New Zealand earlier this year (InsuranceDay.com, April 12 2013). CDHB suffered damage to 14,000 rooms in 200 buildings as a result of the Canterbury quakes. Insurance Council CEO Tim Grafton said that “it’s very good to see this settled because large claims are often complex with multiple insurers and reinsurers involved”.

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