Business Insurance

Login  |  Register Subscribe


cbVid =

New Zealand: Lyttelton Port to receive $361 million in quake-related compensation

December 19, 2013 - 6:00am


New Zealand's Lyttelton Port of Christchurch is set to receive $438 million New Zealand ($361 million) in insurance payments related to the damage suffered during earthquakes in 2010 and 2011, Stuff.co.nz reported.

The news follows a mediation process between the port and its insurers – Vero Insurance New Zealand Ltd., QBE Insurance Group Ltd. and New Zealand Insurance, now a subsidiary of IAG New Zealand Ltd. Lyttelton Port has already received NZD 55.6 million, meaning that it will now receive the remaining NZD 382.7 million.

Read more

 



You may also want to visit

International Content