SkyCity Entertainment has confirmed that its insurance policy covers damage from the fire which struck its convention center in Auckland.
In a statement to the NZ Stock Exchange, SkyCity also confirmed that its contractor Fletcher Construction has contract works insurance which will cover fire damage on the project.
SkyCity’s insurance broker has been named for the first time as Willis Towers Watson an Irish domiciled global multinational risk management, insurance brokerage and advisory company which says it is the third-largest insurance broker in the world.
Fletcher Construction is covered by its policy and has a third party liability insurance policy to cover claims.
It is currently believed that the fire which began on October 22 fire was started after a blowtorch used on bitumen roofing was left unattended but still alight. The blaze destroyed much of the roof the NZ$700 million convention center which was originally scheduled to open in early 2019.
The cause of the blaze is still being investigated and the financial impact on the two companies – Fletcher Building and SkyCity – is still being assessed.
Earlier this month SkyCity told an investors presentation in Adelaide that the convention center project would be “unlikely” to host events in 2021, which were to include the APEC 2021 summit.
SkyCity and Fletcher Construction have both said they are committed to completing the convention center to the standard agreed with the New Zealand government.