Quake death claims reach 100

The ISI's quarterly statistics to September 30 show its members have paid out $18.5 million directly relating to the quake, comprising $17.6 million for death claims, $139,000 on trauma and permanent disability, $203,000 in income protection and $623,000 in redundancy.

The 100 death claims doesn't necessarily mean 100 individual people as some of the quake victims may have had more than one policy.

However, the amount paid out by life insurers is nearly double that paid by ACC, which as at September 10 had paid out $9.23m for 8,071 claims at an average of $1,144 per claim.

ISI chief executive Peter Neilson says the latest statistics indicate a high degree of under-insurance.