EQC Transition to NHC Toka Tū Ake
Effective July 1, 2024, the Earthquake Commission (EQC) transitioned to the Natural Hazards Commission, also known as NHC Toka Tū Ake, under the new governing legislation, the Natural Hazards Insurance Act 2023. This Act replaces the Earthquake Commission Act 1993.
What does this mean for homeowners? If you’re paying your natural hazards cover levy it will ensure any new claims for natural hazards damage that occurred on or after 1 July 2024 will be managed under this new Act. Everything will remain the same when the time comes to make a claim. Below is a summary of the key changes taking place from July 1st.
Continuity of role and responsibilities
Despite the name change, the organisation’s role remains unchanged: to support New Zealand in preparing for and recovering from a variety of natural hazards. These hazards include earthquakes, tsunamis, landslips, volcanic activity, hydrothermal activity, as well as storms and floods. New Zealand is one of the only countries in the world with access to residential land insurance, provided by the Natural Hazards Commission. This cover, called NHCover, is generally a contribution to repairs, and you can’t buy extra land cover through your insurance provider.
The NHI Levy gives you access to NHCover
Anyone with a valid private insurance policy that includes fire coverage pays the NHI levy through their private insurance premium. This levy grants access to NHCover, which provides the first layer of protection for your home and certain areas of land under and around it.
Making a natural hazards claim from July 1, 2024
What does this mean for making a claim? The new Act will apply to claims for natural hazard damage to residential properties occurring on or after July 1, 2024. Any damage occurring before this date will be covered under the Earthquake Commission Act 1993.
Claims handling process
How will claims be handled? NHC Toka Tū Ake will continue to delegate the handling of NHCover claims to private insurance providers, so that you have a single point of contact. For initio customers, this means that your NHCover claims will be handled by our underwriter, IAG New Zealand Limited. You will still lodge your claim to initio online and we will still be your point of contact for your NHCover claim unless you choose to engage with IAG New Zealand directly.
If you need to make a claim or have questions about your cover, please contact us.
Useful links
- What you need to know about the natural hazards insurance act (external link)
- Get to know your natural hazards cover (external link)
- Am I covered for natural disasters?