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The Insurance Council of New Zealand said that private insurers in the country have settled $15.9 billion New Zealand ($10.37 billion) in Canterbury earthquake claims, reports Voxy.co.nz.
There were 24,994 over cap residential claims at the end of September, including 467 transferred from the Earthquake Commission in the last quarter.
Data collected by the council and the Canterbury Earthquake Recovery Authority showed that insurers have fully settled 79% of all over cap residential claims.