Tag: new zealand property insurance

Homeowners insurance policy changes on the way in New Zealand

H. Cutner
homeowners insurance new zealand

Policyholders are being cautioned that they should learn about these changes to ensure that they are properly covered. Officials in New Zealand are warning homeowners insurance policyholders that there are some major changes on the way, and that they will likely be placing the liability for correct valuations on the back of the property owners. This announcement was from the Insurance Council of New Zealand, which is warning property owners to take necessary steps. Homeowners insurance companies are preparing to introduce a new method of sum-insured calculation that would come…

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Insurance woes spark fires in New Zealand

Nordstrom
Christchurch New Zealand Insurance earthquake court

Christchurch the home of rising insurance fraud New Zealand’s Christchurch continues to wrangle with ongoing insurance troubles amidst persistent aftershocks stemming from a major earthquake disaster in late 2010. The quake caused extensive damage throughout the Christchurch region and caused a large exodus of many of the country’s insurance providers. This flight of insurers left much of the region without insurance, which led to various government initiatives aimed at providing some amount of stability to those that still lived in the area. Now, however, a new trend has emerged within…

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Insurers show tentative interest in New Zealand insurance market nearly a year after devastating earthquake

A devastating earthquake struck New Zealand early this year, causing widespread damage throughout the region of Canterbury. In the wake of the quake, insurance companies fled the nation, paying out policies and refusing to sell insurance in the region until recovery had been achieved. In the months following the disaster, the New Zealand government offered to purchase the properties that had been damaged, all of which were completely uninsurable. Recently, however, insurance agents and underwriters have been visiting Christchurch, the city most affected by the disaster, looking to assess the…

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