Insurance settlement

Insurance giant Iagwill split the cost of claims for the Canterbury quakeswith EQC. The insurance company that owns AMI, State and other brands is keepingmumabout details of the quake payments. Next year homeowners will deal directly with their private insurer for diaster claims rather than going through EQC. IAG chief executive Craig Olsen says the settlement means they have avoided costly and lengthy court proceedings. He says they can now move forward to help homeowners recover from natural disasters.