Insurance Council warns about risks of housing complexes

If you are currently living in a multi-unit property or thinking of buying a unit, The Insurance Council of New Zealand (ICNZ), recommends you to check for any insurance gaps. In a recent article written by Gabriel Olano from Insurance Business Magazine, Gabriel discusses potential difficulties regarding getting cover and making claims.

Tim Grafton, chief executive of the ICNZ says “If a unit is attached to other units and doesn’t have a body corporate structure in place, many insurers may not provide insurance because of complexities that can arise at claim time if not all units are insured or if they have different levels of cover from different insurers.”

For full article, please follow link below.

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Article written by Gabriel Olano, Insurance Business Magazine

Article Posted 28 January 2021, Insurance Business Magazine

Source: https://bit.ly/3pRGRkx

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