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New Zealand: Payouts for Canterbury earthquake top $10.16 billion

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Insurance payouts for Canterbury earthquake claimed have surpassed $12 billion New Zealand ($10.16 billion), TVNZ reported.

Insurance Council CEO Tim Grafton said "insurers are currently paying out $11 million New Zealand ($9.3 million) a day to get Cantabrians back into their homes and enabling businesses to move forward."

Private insurers have paid out $7.7 billion New Zealand ($6.52 billion) in commercial claims as of the end of June.

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