Checkpoint. 2011-04-07. 17:00-18:00.

Checkpoint FOR THURSDAY 7 APRIL 2011
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1700 to 1707 NEWS
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AMI is striving to reassure customers fearful for their policies, after the quake-stricken insurer was forced to go to the Government for a backstop bailout package. The Government stepped in rather than risk one of the country's largest insurers going bust over mounting Christchurch quake claims. Its package is worth 500 million dollars but could cost taxpayers as much as one billion, though the Finance Minister is insisting it will only be used as a last resort . But Act Party MP Sir Roger Douglas says it's partly AMI's own fault. CUT AMI says it is now looking to try to raise more capital instead of using the bailout - We'll also hear from the head of AMI in a moment. A bailout would only increase the Government's debt, though international ratings agencies say there's no immediate need to look at downgrading the country's credit rating.

But some AMI policyholders are nervous - there are 485 thousand of them, with 1.2 million policies. AMI customer Angeline Jackson lives in the badly hit suburb of Bexley in eastern Christchurch, and her home has suffered damage in both September and February's quakes. CUT She has had insurance with AMI for over twenty years, but is now fearful that she won't get the cover she has paid for. CUT Jackie Davis lives in Dallington, another of the hardest hit suburbs in Christchurch. Her house needs extensive repairs, and she has a claim in with AMI. She's worried it won't be able to pay, and that she won't be able to find a new insurer if she needs to. CUT Rika (Re-ka) Marshall lives in Burnham on the western outskirts of Christchurch, near the epicentre of last year's September earthquake, which wrecked her house. She says initially the response from AMI was adequate, but since the beginning of the year they have had to chase it for any response, and she's very worried about the latest development. CUT

AMI's chief executive is John Balmforth. I asked him just how secure AMI's policy holders are throughout the country. PRE-REC

In the worst case, the bailout package could leave the Government owning AMI. There are others interested however. The sharemarket listed New Zealand insurer Tower for example, and its chief executive Rob Flannagan joins me now. LIVE

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1720 TRAILS AND BUSINESS WITH
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A section of Chirstchurch's central business district will be up and running again in October. Under the initiative, called Project Re-Start 29-10-11, existing businesses, that are able to, will reopen, and relocatable buildings will be put on empty lots for other retailers. The area is between Oxford Terrace, Hereford Street, Colombo Street and Lichfield Street. Paul Lonsdale is from the Central City Business Association, which is part of the project. He's on the line now. LIVE

Aucklanders frustrated at traffic chaos have something to look forward to with one of the city's biggest roading projects, the Victoria Park Tunnel, due to open three months ahead of schedule. The multi million dollar tunnel in central Auckland is the first of the Government's seven roads of national significance and it will free up traffic for people travelling to and from the North Shore. Georgina Ball went along to the tunnel to look at the progress. PKG

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17.30 HEADLINES
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Opposition parties are accusing the Government of abandoning public service television with the demise of TVNZ 7. The channel - which is only available on the Freeview digital platform and on Sky TV - will shut down in June next year after the Government rejected funding it any further. The opposition says this means Māori TV will be the only channel with a public service focus. Here's our political reporter Liz Banas. PKG

The pressure is on embattled insurer AMI to find investors so it doesn't have to resort to a half billion dollar Government rescue package. It's threatened with going bust over mounting Christchurch earthquake claims. Allies and opponents of the National-led Government are backing its rescue package, though it could end up costing twice as much as the initial 500-million-dollars in backstop funding. AMI says it has 600-million dollars in reinsurance cover for February's quake, and a further one billion to meet a third event. It also has back up cover if a fourth event occurred before the end of June. AMI is just the latest crisis facing the Finance Minister Bill English. PRE-REC

Portugal's become the third country in less than a year to ask the European Union for emergency financial aid to help deal with its debt crisis. Prime Minister Jose Socrates Joh-say sok-ruh-TESH says calling in foreign assistance was a last resort but is now essential. The European Commission's will shortly begin work on a plan to assess exactly how much money Portugal will need. The ABC's Bronwyn Herbert reports. PKG

A teenager who tried to kill a policeman with a machete left him for dead then returned to finish him off. In the High Court at Whanganui today the prosecutor called it a cowardly attack from behind. The judge agreed and sentenced the 18-year-old to more than eight years in prison. Our reporter Craig Ashworth was there. PKG

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17.45 WAATEA
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Mounting claims from the Christchurch earthquake have forced AMI insurance to go to the Government for a possible bailout. Since the quake, various insurers and reinsurers have issued warnings about the drain on their reserves from it and other disasters, and the way this will inevitably push up insurance premiums. We're joined now by Michael Vine, an insurance analyst for ratings agency Standard and Poors in Melbourne. LIVE

NATO's rejected criticism of its military operation in Libya, denying reports that it's too slow to launch air strikes to protect civilians. As well, there is increasing alarm Colonel Gaddafi's forces are using civilians as human shields. And there's more anguish too after a boat carrying refugees capsized near the Italian island of Lampedusa. Here's the ABC's Middle East correspondent Anne Barker. PKG

The Syrian authorities, who've faced weeks of anti-government protests are speeding up reforms including reversing a ban on the wearing of full-face veils at universities. As Lina Sinjab reports from Damascus. PKG