IAG confirms committment to the rebuild of Canterbury

IAG’s recent announcement regarding revised underwriting guidelines will be welcome news for those involved in the rebuild of Christchurch and Canterbury, says Dean MacGregor, Executive General Manager of IAG’s Canterbury Recovery.

The decision to offer contents insurance to labourers and tradespeople employed by member organisations of the Infrastructure and Construction Committee who are moving to Christchurch to help with the rebuild, is indicative of the company’s commitment to the region, Mr MacGregor said.

"As a company, we are 100 per cent committed to the Canterbury region. We are aware there has been some frustration over ongoing insurance and we are doing all we can to provide innovative solutions to any issues that may hold up the rebuilding process.

“When the rebuild process reaches its peak an additional 30,000 people will be needed to meet demand. Without insurance it will be hard to attract these people to the region. To help alleviate this issue, IAG will write new contents-only policies for labourers coming into the area to help with the rebuild.

“We are also prepared to consider writing new business for both new and existing customers with tools and mobile plant (portable business assets), who are working in the area as part of the rebuild programme.”

IAG has worked closely with the Construction and Infrastructure Committee to develop this innovative solution to the issue of attracting skilled people to the region. The 12 member organisations of the committee include Hawkins, Fulton Hogan, Opus and Fletchers.

“This is just one of many steps we will put in place to help the region recover. With more than 8,300 aftershocks since the first earthquakes, we are reviewing the risks weekly and will continue to work with reinsurers and industry partners to make progress for our customers and the wider region,” MacGregor said.
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For further information contact:
Renée Walker, Head of Communications, Canterbury Recovery
Ph: +64 3 977 4181 or 021 820 729
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