Homeowners Warned of Crackdown on Quake Insurance Spending
Apr 21, 2017
The Insurance Council is warning owners of earthquake-damaged homes in Marlborough that banks are cracking down on insurance pay-out spending.
The message was given at a community meeting last week in the small township of Ward, where residents are among those in line for cash settlements to handle their own rebuilds and repairs.
But a lawyer with expertise in the insurance area said navigating the fine print was tough for many, and a government-backed advisory service was still needed.
Insurance Council chief executive Tim Grafton said the conditions around insurance payouts were long-standing, but recent changes to how settlements were paid had highlighted the rules.
Read more from the Radio New Zealand interview with John Goddard here: Homeowners Warned of Crackdown
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Jon Parker by email email@example.com or (04) 495 8910,
Richard Caughley by email firstname.lastname@example.org or (04) 4958903,
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