It is great to see that $25 million is guaranteed for the restoration of the museum. It’s a bit worrying though, that the initial estimate of $30 million is now $40-$47 million. Where initially we would have been looking for an additional approx $5 million, it’s now $20-$25 million. – significantly more.
Even more worrying is that, in all the publicity and talk of funding, there is no mention of any insurance payout, not even for ‘business interruption’. Income from the museum was estimated at approximately $2.2 million per year, covered for a maximum of two years.
Does this silence mean that the damage was caused through inadequate maintenance therefore insurance companies refused to pay out? Does it mean that the damage was already there but not picked up during inspections until a thorough inspection post quake?
If the damage was already there, was from poor maintenance or not identified during inspections, heads should roll.
It must surely be time now to publicly communicate the extent of any insurance payout. After more than two years, this must be known because it will affect on the total external funding requested. My concern is that the silence suggests no payout.