AMI Insurance, which now has a backstop from the government, has announced a trebling of its earthquake response team in Christchurch and the appointment of AA Insurance founder Peter Rose to lead the team.
“We want to work as swiftly and efficiently as possible so that Christchurchresidents affected by the quakes or aftershocks know where they stand,” Rose said in a statement.
“We know this is a time of great uncertainty and stress for many people, and we will work to resolve individual situations as quickly as possible," he said.
The last day for lodging claims with the EQC is Monday May 23 and it is essential for claimants to meet that date.
AMI admitted last week it faced a capital shortage after the February 22 earthquake in Christchurch and had asked Goldman Sachs for options to raise capital. See our article here.
The government announced a NZ$500 million facility on April 7 to back AMI if it needed. See our earlier article here.
AMI’s earthquake response team was set up after the September 4 earthquake and was managed initially by AMI's Chief Customer Officer Richard Hutton. AMI did not say how big the original team was or how big it would become. It also did not say
"However, the growing size of the task of handling many thousands of claims means a dedicated executive is now needed to head the company’s response team on a full-time basis," AMI said. The team handles the lodgment of claims, damage assessment and the organising repairs of quake affected homes and property.
Rose was the founding chief executive in 1994 of AA Insurance.
Since then Rose worked for 11 years for AMI’s actuarial consultants, Finity, before establishing his own Sydney-based consultancy.
What experience have you had with AMI in Christchurch?
4 Comments
AMI have been great at sending information out at how financial stable they are now they have the government support, yet seem unable to send any information re claims out to individuals.
they also still seem to be able to send invoices out, yet are unable to give any time frames etc for sorting out claims. A little bit one sided. And are only now putting in place a earthquake response team.....the first big quake was September....it is now MAY, the wheels turn ever so slow at AMI and I hear it is beacuse Mr Blameforth wants full control of every decision in the company. The insurance companies pointed the finger at EQC quickly enough, now it is there turn they have been found wanting.
I thought it was sweet of AMI's CEO John Bumfart to take his new products manager ( a lady , ahem ! ) on a junket to Europe and to the Caribbean . All in the name of re-insurance , of course . ........... So why was she there ?
........ Boggles me that anyone ever trusts this firm again , and renews a policy !
Look at the board of directors , AMI has no one with any insurance industry experience .
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