EQC settlement cap & levies due to double
Insurers have had it suggested to them that they should reduce their premiums after our Government has doubled the maximum amount the Earthquake Commission (EQC) will pay in a disaster.
David Clark, the EQC Minister announced on in October 2021 that from October 2022, the EQC payout cap will be doubled. That takes the the current cap from $150,000 to $300,000 plus GST.
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