Feature
Vero on the National Disaster Response Model Covernote asks Vero executive manager for specialty claims Matt Williams about the National Disaster Response Model, a new NZ approach to natural disaster claims.
How long have insurers and the EQC been in discussions to create this scheme? The new Natural Disaster Response model is something that has been evolving over a number of years. Since 2016 Vero Insurance has been working in partnership with EQC to trial new approaches to managing natural disaster claims. This was to address what we learned about the impact of New Zealand’s dual insurance model during the Canterbury earthquakes, and investigate whether having both insurance companies and EQC managing claims was the right approach. In 2016 Vero Insurance and EQC worked together on small pilot following the 14 February 2016
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September 2021
Earthquake. Under this model Vero undertook the assessment and management of these claims. This was the basis for the successful model that was used by the main New Zealand insurers for the Kaikoura Earthquake. Following the review of the model used for the Kaikoura Earthquake discussions commenced on how a similar model would support customers and how to permanently embed it into New Zealand’s insurance system. The final agreement was signed in October 2020 and the Natural Disaster Response Agreement is now live. This has been a significant piece of work over many years to ensure that our customers get good experiences and outcomes in what can be difficult times as a result of a natural disaster. What problems will it solve for brokers and clients? This new model means that insurers will be a single point of contact for all claims. Customers who suffer
