Earthquake Still Affecting Christchurch Casino

The earthquake happened months ago, but the aftershock is still being felt across Christchurch. Many businesses are having a difficult time recovering and returning back to normal operation, and insurance firms are not making things any easier. Insurance companies are introducing new policies and clauses that may seem a little unfair in the event of another natural disaster.

In Christchurch Casino’s casino, the operator has been forced to agree to a $5 million excess, as opposed to its previous $50 000 excess. This means that the casino operator must pay the first $5 million in damages, and then the insurance company will cover the rest.

While it is a great responsibility for the casino, there aren’t many other options. Should the operator choose to forego this coverage, Christchurch Casino runs the risk of not being insured at all.

Christchurch Casino may have gotten one of the better post-quake deals. Some companies cannot receive full coverage while others are being faced with no coverage policies, in which the insurance company will not pay for damage that occurs 24 – 72 hours after a natural disaster.

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