CERA says insurers need to pick up the pace

11:00 am on 14 November 2013

The Canterbury Earthquake Recovery Authority (CERA) has told MPs that private insurers need to increase the rate of their work in the region by half if they're to complete it by 2016.

CERA chief executive Roger Sutton appeared before Parliament's Finance and Expenditure Committee on Wednesday.

Mr Sutton told the select committee private insurers have settled about 40% of their claims, and their rate of work is about four times as high as it was a year ago, but it's still not enough.

"That sounds like a gutsy target, and a fifty percent increase in rate of work sounds like quite a big increase, but talking with the most senior people from the insurance industry, they're confident and comfortable they're actually going to get there."

Mr Sutton told MPs about 250 families are still living in the residential red zone.