Here is the press release from the insurance council to the effect that CNZ members AA Insurance, FMG, the IAG brands, MAS, Tower and Vero have agreed not to plead a defence under the Limitation Act 1950 or the Limitation Act 2010 for any residential claim relating to the Canterbury Earthquakes where proceedings are filed in the Courts before 4 September 2017. This does not affect claims against EQC or Southern Response. To save arguments and issues I still recommend that owners sue insurers by 4 September 2016.
Here is the link to the press release from the EQC website about how it will apply the limitation period(s) under the Limitation Act. To be safe I recommend that owners sue before 4 September 2016. Better to be safe than sorry.
Here is a link to a Press story about the 6 year limitation period under the Limitation Act and its effect on claims for earthquake damage. To be safe anyone with an unsettled claim against EQC or their insurance company should sue by 3 September 2016. Once the limitation period expires that is the end.
Auckland
PO Box 137243,
Parnell, 1052
Tel: +64 27 434 5489
grant@grantshand.co.nz
