Wednesday 23rd February 2011
|Text too small?|
Insurer Tower has set up an emergency response team to handle a heavy load of claims calls after today's earthquake in Christchurch.
The scale of the damage and number of fatalities is unknown yet, but at least 65 people are reported dead and hundreds more are expected to be injured after the 6.3 magnitude quake caused widespread destruction in the central city.
Tower expected the significant damage being reported to trigger re-insurance arrangements, under which it is liable for costs up to $5 million.
The after-tax effect of that is expected to be around $3.5 million, the company said.
No comments yet
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto