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The bill that will establish a special insurance tribunal to resolve outstanding Earthquake Commission (EQC) and insurance claims is set to be introduced to Parliament and could pass within a month, it has been suggested.
Justice Minister Andrew Little and Minister responsible for EQC Megan Woods are introducing the bill today, August 01, as outlined in a report from stuff.co.nz.
In May, Woods announced that Budget 2018 would provide $6.5 million in operating funds and $1.5 million in capital to establish the tribunal. It aims to resolve unsettled residential insurance disputes arising from the Canterbury earthquakes of 2010 and 2011.
Little told the publication the legislation would give claimants access to an individually case-managed resolution process as well as mediation services.
Similarly, Woods reportedly said: “This tribunal will be one important way to help cut through the delays and get claims resolved so people can move on with their lives.
“This is very exciting legislation that will help make a real difference for people,” she added.
The minister also noted the bill would help people look to the future with confidence and hope, instead of being trapped in limbo.
Earthquake insurance claimants advocate Ali Jones, meanwhile, reportedly said she was “cautiously optimistic” about the tribunal. She believes it is good to offer another way of resolving outstanding claims, so long as the structure is fair and transparent for both parties.
“We have to be confident the person making the final decision has the right information available from truly independent advisers,” she told the publication.
