AMI Insurance gears up to handle Christchurch Earthquake claims

AMI Insurance announces it is trebling the size of its Canterbury Earthquake Response Team as work progresses from managing the process around the lodgment of claims, to damage assessment and organising repairs of quake affected homes and other property. Leading insurance industry figure, Peter Rose, has been appointed Executive Manager of the team with immediate effect.

AMI has a large share of the fire and general insurance market in Canterbury and a correspondingly large number of earthquake-related claims to handle.

To have certainty of meeting all claims, the company has negotiated back-up capital with the Government, to be called upon if needed, and has already commenced a programme to recapitalise the company independently.

In a statement last week the company said it would meet all claims.

“We want to work as swiftly and efficiently as possible so that Christchurch residents affected by the quakes or aftershocks know where they stand,” said Mr. Rose. “We know this is a time of great uncertainty and stress for many people, and we will work to resolve individual situations as quickly as possible.”

The last day for lodging claims with the EQC is Monday 23 May and it is essential for claimants to meet that date.

AMI’s Earthquake Response Team was set up after the 4 September earthquake and was managed initially by the company’s Chief Customer Officer, Mr. Richard Hutton, who has developed various processes, dealt with customer concerns and represented the company at public meetings. However, the growing size of the task of handling many thousands of claims means a dedicated executive is now needed to head the company’s Response Team on a fulltime basis.


INDUSTRY LEADER
Mr. Rose, the new Executive Manager of the Canterbury Earthquake Response Team, is a respected industry figure who set up AA Insurance in New Zealand and was its founding CEO, a position which gives him a good understanding of the New Zealand insurance market. Since then Mr. Rose worked for 11 years for AMI’s actuarial consultants, Finity, before establishing his own Sydney-based consultancy, where he has added to his experience in managing operational and strategic challenges in complex business environments.

AMI has more than 450,000 customers with some 1.2 million policies in New Zealand.