Earthquake Commission confident it has enough funds

12:13 pm on 31 December 2010

The Earthquake Commission says it will have plenty of funds left over after paying for damage from the earthquake in Canterbury and its main aftershocks.

The commission says it has so far paid out almost $581 million to claimants following the 7.1 magnitude quake on 4 September.

It estimates the final cost it will face will be between $2.75 billion and $3.5 billion.

However, the commission says only the first $1.5 billion of this will payable from its funds and the rest will come from reinsurance policies with companies overseas.

EQC says after paying for the Canterbury disaster, it will still have a good buffer in place for future natural catastrophes.