Tuesday, August 28, 2012

EQC is a Crock.

After around sixty years of having a levy on insurance premiums confiscated from me to provide me with cover in the event of a major disaster, finally on September 4th 2010 that extraordinary cover was  to be accessed.

As the 2nd anniversary of the event looms, two pensioners are still awaiting a response to ascertain what will happen to our damaged dwelling.
It is our only home so you will bear with me as I rant again on the total innappropriateness of EQC to actually respond to such a disaster.
Watching holiday homes and second/third homes being made ready for the coming summer season by way of gangs of tradies beavering away , probably on the basis of "oil for squeeking hinges" it is galling to be told on each inquiry that our claim is in the "system".

1 EQC is, was, and never will be a viable entity to respond to a disaster as an insurance company does every week of the year.

2 Existing insurance companies should have been left to assess, and make decisions as to the reinstatement or other remedy for the damage caused by the quake.

# I accept that the creation of CERA has been one of the good decisions to emerge from the mess

3 EQC should be restructured as a reinsurance entity to stand behind the industry in its response to a declared disaster event probably by Order in Council.

4 Handing the deal to Fletchers has been and continues to be, a totally ineffective means of responding. It has sidelined many builders and tradesmen who for valid reasons have maintained their professional standards as they watch assorted crooks, charlatans and the hopeless make ballsup after cockup with substandard work.
Statistically the Fletcher figures indicate a response that can be held up as successful, the reallity is another level of bureaucracy that indicates a mirage of  productivity but at what cost.
Training days to ensure tradies can use a ladder, wear hi-vis jerkins, act as arbiters in disputes as to what is EQ damage and what is deferred maintenance often with very puzzling outcomes, and other inane structures are not even remotely humorous.

What has triggered this further rant.

Numerous approaches to our "Hub", EQC head office, and even personal approaches to staff I know socially are all to no avail as the second anniversary is less than a week away, and still no action. Often when a real person can be reached the response is: "I understand your frustration, I will make inquiries, I am finishing on Friday but I have noted your inquiry, we are making tremendous strides in resolving problems, we will get to you eventually, your file is with Fletchers", and other inane drivel clearly learnt at "training sessions".
That fact pales into the farce it really is,  as "Lumley" who are our current insurer keep in touch and stand ready to respond when and if EQC ever get around to making the necessary assessments that will require my insurer to step up or breathe a sigh of relief.
Could it be because I have nominated a reputable builder to be my contractor and the fact that I cant be bothered with the vultures that have descended on Canterbury to cream off a few baubles then head on out and leave the genuine tradies who live and work here to clean up after them.

However it is very comforting to know though, that those who live elswhere off shore and want their nice place in Akaroa when they descend on us for a couple of weeks over the summer and then depart, are being catered for, isn't it.
We must remember our place eh. Cripes we might die and that will solve it wont it. At least they wont have to answer the now weekly contacts by way of 0800damage, eh.


Paulus said...

Coming from over 40 years in the Wholesale Industry (Reinsurance) I have to agree with your item 3.
Until about early 1980s EQC had no Reinsurance, and we in tghe Industry fought very hard to introduce this and finally achieved this. (thank goodness for NZ)
We also tried hard to change the structure of EQC to second loss, excess/over traditional Insurance but did not succeed. Peter Neilson was EQC Minister and he would not listen to anything (as did the Labour Cabinet continue to be blind). Their understanding that NZ only had one Insurance loss Earthquake was lost on them.
Now it is imperatve that major structural changes do take place to EQC (or abolish it). I believe it will (a committee is around) but a little time is necessary to let the dust settle.
It should be born out that the estimated Christchurch insurance loss (Swiss Re) is about US$ 16billion with Reinsurance paying about US$ 13 billion.
However this fund of money has to be repaid over time to balance the worldwide Reinsurer's books.
There is no such thing as a free lunch.

dad4justice said...

RIP Christchurch.


Tinman said...

The vast majority of people I talk to are reasonably happy with the EQC response to their eq damage.

The big problem occurs when EQC must work with insurance companies.

For myself, maybe because we are in one of the worst affected areas, the response was fine and while we won't have neighbours very shortly we have commenced repairs.

dad4justice said...
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dad4justice said...
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gravedodger said...

Dad4j put your compost in your own bin.

dad4justice said...

Oops sorry Gravy - my greenie compost bin is lost -so I must ring Bob Each Way Farter or Roger Muttonhead and tell them about the hole in the road that my wheelie bin ,cat,dog and truck vanished into.

God help ChCh.

Anonymous said...

How does what they actually did in Chch compare with "the plan" as revealed on their website (under links - 1855 EQ etc..)?


gravedodger said...

D4j, if your half arsed apology had a skerrick if sincerity you would accept my repeated requests to show a little respect to those you choose to denigrate.
Parker, Brownlee, Sutton if you must indulge yourself and decline to use any title but the abusive add ons are totally unacceptable in the degree you employ the tactic.
I dont want to waste my time with moderating your outbursts on my posts so unless I use a blanket ban you will be able to continue to take advantage of the very limited time I can spend as a moderator.

Not sure what I have ever done to deserve such treatment from you, You might have a reason.

dad4justice said...
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dad4justice said...

I don't mean to offend Grave.

Anonymous said...

As yours will be a no employment check payday advance, you are more inclined to be charged a higher interest rate super real 1
equity: equity in the house commonly a condition in this period.