Go to the updated story: SkyCity says insurers to cover convention centre fire costs
Fletcher Building Ltd said today its insurers had confirmed they’d cover costs arising from the SkyCity NZ International Convention Centre fire in downtown Auckland on 22 October.
Third-party cases are being reviewed on a claim-by-claim basis.
Fletcher said in its statement it expects to be in a position to provide a further update at its half-year results announcement in February.
Fletcher subsidiary The Fletcher Construction Co Ltd is the head contractor on the project. The company said: “Insurers for the project have confirmed that, based on their assessment to date, the contract works insurance policy will respond to loss & damage resulting from the fire. In addition, the third party liability insurance policy is expected to respond where legal liability exists and cases are being reviewed on a claim-by-claim basis. The Fletcher Construction Co Ltd is an insured party under these policies.
“Fletcher Building is working to determine the impact of the NZICC fire on the project’s delivery timeline, costs & cashflows, and any potential impact on the construction provisions announced in February 2018. The company confirms that based on information currently available it remains within these provisions.
The company expects to be in a position to provide a further update at its half-year results announcement in February 2020.”
Attribution: Company release.