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Audio, Radio New Zealand

Victorian Authorities are warning residents of significant aftershocks following on from the magnitude 5.8 earthquake which shook Melbourne around 9am yesterday, causing significant structural damage across the city. The University of Melbourne's Dr Mark Quigley is a professor of tectonics, who became a familiar voice and face through the Christchurch quakes. Our producer Matthew Theunissen asked him how yesterday's quake compared to those he experienced in Christchurch.

Audio, Radio New Zealand

A Christchurch couple in a long running dispute over the insurance payout for their earthquake damaged home have reached an out-of-court settlement with Southern Response. The class action was brought on behalf of former AMI Insurance/Southern Response policyholders who believe the company misled them into settling their claims for less than their policies entitled them to. The lawyer for Brendan and Colleen Ross, Grant Cameron, talks to Max Towle about the settlement.  

Audio, Radio New Zealand

A Christchurch man with terminal cancer is using his final days to battle his insurance company, a decade on from the deadly earthquakes. Brian Shaw owns an apartment that's in a block of 11. They were all damaged in 2011. Shaw is a building consent officer. He says getting technical reports and chasing a settlement with insurer Vero has already cost the unit owners about $400,000, and they still have not even made it to court. On Friday morning he will be protesting outside Vero's Christchurch office, along with other unhappy customers.

Research papers, Victoria University of Wellington

We aim to investigate the role of insurance in business recovery following the devastating Christchurch earthquake in February, 22nd, 2011. We analyze data from two business surveys conducted after the earthquake to examine how insurance affected business operation in the aftermath of the earthquake both in the short-term and longer-term. For the short-term analysis, we use a combination of propensity score matching (PSM) and linear probability model (LPM) to analyze the data. We first estimate the propensity scores for insurance take-up of each firm conditional on the firm’s individual characteristics. Stratification based on the estimated propensity scores is used to match the treated (insured) and the control (uninsured) firms. We then estimate the probability of firms’ continuing operations with a set of control variables to account for the level of damage and disruption caused by the quake in each stratum. We find little evidence of any beneficial effect of insurance coverage on business continuity in the short-run. For the longer-term analysis, we analyze the available survey data using logistic regression. The result suggests that business interruption insurance significantly promotes increased level of long-term productivity for surviving firms following the earthquake.