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More Christchurch insurance risks than Fairfax has disclosed

  • March 26th, 2011

Stuff has a story about insurance technicalities.

I'm waiting for the investigative story into the risks the government is running that the EQC's reinsurers, and many other insurers have been let off the hook by the Lords of Emergency's arrogant demolitions.

Most policies make payment conditional on the insurer getting an opportunity to verify the extent of damage, and its cause. When building owners are not even notified, or given a chance to mitigate loss by removing items of value, who could blame an insurer or reinsurer for relying on such terms, or indeed pointing out that the cause of loss (or an indeterminable part of it, is not necessarily an insured event, but instead the act of a civil authority or government,

The government is going the right way about ensuring that NZ will not get the cash flows we have been paying our premiums for, and relying on to fund rebuilding. Will the government stump up to fill the gap?

See also Eric Crampton on the arrogance of the authorities.


  • dave attewell
  • March 27th, 2011
  • 10:15 pm

the re insurerers are the problem they will not settle in 3yrs. been there

  • Christine Murphy
  • March 28th, 2011
  • 9:44 am

For once Stephen, I could not agree more. An insurance lawyer I know has somewhat cynically suggested that he should send Brownlee and Parker a note thanking them for the work they are going to generate for him.

  • Stephen
  • March 28th, 2011
  • 11:17 pm

Christine – I wonder how many others fear that we are not necessarily being well served by the “bi-partisan” approach of the politicians to the Christchurch aftermath. Where are the representatives who in our democracy should be standing up for the cordoned out owners, and now the taxpayers whose government could be invalidating our reinsurances?
Where are the fearless journalists who should be getting straight answers from the insurers and the Lords of Emergency


Christchurch people are filing claims early and aggressively, with emergency, things about to turn to custard and silt,

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