SUE IAG NOW? - SUBSEQUENT OWNERS

In respect of "on-sold" properties IAG will not confirm that it has agreed to defer the LP defence to 30 June 2018.  It appears that IAG is going to claim that re. "on-sold" properties it can rely on the LP defence from 4/9/17. 

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Melanie Tobeck
One Owners Case Study Shows an EQC Failure Rate of 86%

What this study shows is of the seven properties assessed by EQC only one was assessed correctly (an 86% failure rate). EQC missed significant structural damage in four of the seven properties (a 57% failure rate).

Minister Brownlee, responding to questions in the House, recently stated that there were 7.9% call back requests. Call back requests are reliant on the homeowner knowing their home had missed damage and initiating contact with EQC.

We already have one devastating example of the outcome of damaged missed by EQC and the subsequent impact on future property owners, there are likely to be many more in the years to come

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Melanie Tobeck
Are Insurers Likely to Use a Defence of Limitation to Reduce Liability?

The Insurance Council of New Zealand is not addressing this with its members, rather it is telling homeowners to deal directly with their insurers.
 

Residential property owners are warned by the Residential Advisory Service to get in before it is to late.  They are most concerned for owners who have remedial repair concerns who have not considered their claim may go over cap. These people must contact the private insurers before it is to late. Some insurers can use the defence of limitation as early as September 2017.

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Melanie TobeckComment
Insurance Claim Delays Deliver Massive Profits

The Huffington Post published this article in 2011 titled "Insurance Claim Delays Deliver Massive Profits To Industry By Shorting Customers". At this time many people in Christchurch did not fully appreciate how things would unfold with their own insurance claims.

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Simon Darby
Kaikoura - Taking control of the Earthquake Claims Process

Post the 2010 / 2011 events residential property owners thought their insurance policies, alongside the EQC Act, would see them right. For some, the system worked, but for many it didn’t. Too many homeowners were left with poorly repaired homes, have lived with significant stress, are financially worse off, have devalued properties, and as a city, Christchurch is facing a crisis of substandard housing stock for years to come. Learn from experts about the Christchurch experience. 

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Simon Darby
Too Much Talk About Learning Lessons and Not Enough Action

It was disturbing to find the lessons of Christchurch were not  fully understood in Wellington following the November 14 earthquake sequence. Soon after the September 2010 earthquake organisations and businesses in the Christchurch CBD were quick to claim it was ‘business as usual’. Naturally these organisations and businesses in Christchurch were concerned for the economic wellbeing of the city. However it was in hindsight the wrong message to send out. 

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Melanie Tobeck
EQC's Repair Standards - Not Compliant or Up to Code?

It is now understood that EQC have been repairing earthquake damaged homes to a lower standard than required under the EQC Act and, during the critical period when most of the Canterbury repairs were carried out or cash settled, EQC lied about claimant’s entitlements and EQC’s legal obligations.  The public have been fooled by EQC into believing they were entitled to less than the full replacement cover stated in their policies.    

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Cam Preston
Limitation Period for Claims Against EQC -Resources Update

An update on EQC's position and what it means for you..For those of you new to all of this, Limitation is a legal term that refers to a "count of time". Many people impacted by the Canterbury Quakes are facing real concerns with this issue due to delays they believe were caused by EQC's inability to correctly assess their homes in accordance with the EQC Act.

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Melanie Tobeck