Showing posts from May 27, 2012

Lianne Dalziel - Quake reinsurance has wider ramifications

MP Lianne Dalziel has an item on her website about major Chinese insurer, China Taiping, pulling out of Christchurch and Wellington because of the risks involved.The article is here. China Taiping’s New Zealand website ishere (no mention of this issue). Website New Zealand Investor has similar informationhere..

Earthquake Recovery Strategy released

CERA have made the Christchurch earthquake Recovery Strategy available on their website here.There will be public “engagement opportunities”, which are set out here.From the CERA website:The Recovery Strategy provides a vision, goals and a road map for ensuring the success of greater Christchurch for recovery and future leadership in earthquake resilience.The Recovery Strategy Vision is:Greater Christchurch recovers and progresses as a place to be proud of an attractive and vibrant place to live, work, visit and invest - mō tātou, ā, mō kāuri ā muri ake nei - for us and our children after us.The community is at the heart of the vision and the success of recovery.As far as community engagement is concerned, this is CERA’s commitment to the process:CERA considers ongoing engagement is required to successfully implement the Recovery Strategy.CERA’s Community Engagement Strategy [PDF 65KB] is a commitment to work transparently and inclusively. It commits CERA to the following when involvi…

EQC fiddling with it’s FAQs again.

In the last day or two EQC have removed part of it’s FAQ on TC3 land (here). As with previous occasions there is no note indicating a change has been made, what the change was, and why it was made.The text that has been removed is below. The second section, about insurance companies honouring a policy if land is considered uneconomic to repair, seems crucial information. Some land claims issuesThe ‘Financial Agony Aunt’ also threw up some issues to do with the settlement of land claims. The Technical Categories do not affect your land claim, they are part of your building claim with EQC and your insurer. But land claims are an important issue and worth discussing all the same. Will insurers still honour a policy and repair a house if the land underneath is considered uneconomic to repair?If your land is considered to be uneconomic to repair by EQC, it does not necessarily mean the land cannot be built on. For example, if EQC decided to pay out for the maximum entitlement under the E…

Update – Phone calls and getting claim information from your insurance company

At a CanCERN meeting last night it was mentioned that some insurance companies record telephone conversations between the company and claimants. Sometimes this is done for training purposes, sometimes for quality control.Ask for a transcript, or a CD, of the calls. The person concerned had asked for, and got, the calls on a CD. This helped focus the insurance company’s mind and eliminated disagreement over who said what.The previous post on getting claim information from your insurance company is here..

Red Cross Grants

A reminder of the Red Cross grants still available for those who have experienced earthquake damage. Red Zoners on the move should check out the grant for independent advice (including legal expenses) – available to vulnerable people and those with a child or children under 18 years. NOTE: it is important to apply for this before the expense is incurred.Click on the name of the grant for more information.Disability Support GrantIndependent Advice Grant (for vulnerable people and those with children under 18)Storage grant for Homeowners (for vulnerable people)Storage grant for RentersTargeted Moving Assistance Grant.

Demolition videos - CBD Red Zone

Demolition News is the best demolition website on the internet. If it is demolition related, this is the place to look.

Part of the coverage provided by the site is videos of demolitions - successful or otherwise. Often there are videos of demolitions in the CBD, such as the one of Natcoll House here. The home page ishere.

IAG – Part 2 of bad at playing nicely, or just misunderstood?

The first part of this post (here) outlined aspects of IAG's bad performance in Australasia. Some questions arise: has IAG fallen short in other areas of activity, and what might be motivating its current behaviour? Could it be that IAG is a business under pressure from its own shortcomings, and squeezing Canterbury policy holders to make up for it?IAG  -  UKIAG purchased insurance interests in the UK: Equity Red Star (Britain's fifth largest motor insurer) and insurance brokers Barnett & Barnett, a provider of commercial insurance broking and risk management services. The venture was not a particularly good one, and financial losses occurred. In addition Equity Red Star did not conduct itself well and had failings in the way it managed parts of it’s operations. As reported by the Financial Times on the 3rd of January this year:Lloyd’s of London has censured a member syndicate for the first time in almost a decade after uncovering failings in the way it managed its financi…