About Earthquake commission (eqc)
Earthquake Commission (EQC) is a New Zealand crown entity that invests in natural disaster research to help communities reduce their risks and provides home insurance. EQC was established in 1945, following the devastating earthquake that hit New Zealand's capital city, Wellington. The commission's primary objective is to provide insurance coverage for residential properties against natural disasters such as earthquakes, landslides, volcanic eruptions, and tsunamis.
EQC has been at the forefront of natural disaster research for over 75 years. The commission works closely with scientists and researchers to understand the causes of natural disasters and develop strategies to mitigate their impact on communities. EQC also collaborates with local councils and emergency services to ensure that communities are well-prepared for any eventuality.
One of EQC's key initiatives is its Natural Hazards Research Platform (NHRP). This platform brings together experts from various fields such as geology, engineering, social science, and economics to conduct research on natural hazards. The NHRP aims to provide policymakers with evidence-based information on how best to manage risks associated with natural disasters.
EQC also offers a range of resources for homeowners looking to reduce their risk of damage from natural disasters. These resources include guides on how best to prepare your home for an earthquake or other disaster, as well as information on what steps you can take after a disaster has occurred.
In addition to its research activities, EQC provides home insurance coverage for residential properties against damage caused by natural disasters. This coverage includes both structural damage and contents cover. Homeowners can choose from a range of policies depending on their needs and budget.
EQC has played a vital role in helping New Zealanders recover from some of the country's most significant natural disasters over the years. In 2010-2011 alone, EQC paid out over NZD 3 billion in claims following the Canterbury earthquakes - one of the largest payouts in the commission's history.
Overall, EQC is a critical player in New Zealand's natural disaster management landscape. The commission's research activities and insurance coverage help to reduce the impact of natural disasters on communities and ensure that homeowners are adequately protected against potential damage. With its long history of expertise and commitment to innovation, EQC is well-positioned to continue leading the way in natural disaster research and management for years to come.