Canterbury District Health Board has settled its quake-related insurance claim and will receive the full amount available under its policy of $320 million.
Bruce Matheson, CDHB chair, said it was a relief to have the claim settled. "It is an outstanding result to have received the maximum amount available," he said.
"We hope that the insurance payout will go a long way towards improving and replacing health facilities in the Canterbury region."
Canterbury DHB's payout is the same as Housing New Zealand's which, when announced earlier this year, was thought to be the largest ever Canterbury quake-related insurance claim.
Mr Matheson said the district health board had identified more than $500 million worth of quake-related repairs to its buildings and infrastructure since the September 2010 quake.
"We sustained damage to more than 200 buildings and 12,000 out of 16,000 rooms in CDHB facilities were damaged. Clearly there's a gap between our insurance payout of $320 million and the $500 million price tag for repairs.
"While delighted to have received the full amount, it's not going to allow us to fix everything.
"We have already begun a prioritisation process to ensure these funds are invested where they are most needed."
Mr Matheson paid tribute to the DHB team who have been working on preparing information to support this claim for months.
"This has been a huge project for a range of staff in our legal, finance and buildings, maintenance and site redevelopment teams.
"I would also like to acknowledge our insurance Brokers, Marsh New Zealand, and our external legal advisors, Chapman Tripp as it was a collaborative effort, which enabled us to achieve this result in a timely fashion.
"Also to our external team of project managers, quantity surveyors and structural engineers principally from RCP, Rider Levett Bucknall, Holmes, Beca, and Tonkin and Taylor who have been instrumental in getting this great result."
Chapman Tripp Insurance law partner, Garth Gallaway, who acted for CDHB, described the settlement as a substantial achievement brought about by CDHB's focus on getting resolution.
"From the outset there has been a constructive dialogue with the insurer and an unwavering commitment by CDHB to achieve settlement at the policy limit as quickly as possible," Mr Gallaway said.
Grant Milne, Country Head for CDHB's insurance brokers, Marsh New Zealand, said the District Health Board claim is one of the largest Canterbury earthquake claims made under a single policy.
"Marsh is proud to have played its part in a very professional team effort that has led to this highly complex claim being resolved amicably and in a very reasonable timeframe," Mr Milne said.