New Warning on Insurance Cover in New Zealand
Radio New Zealand Nine To Noon, 9:09 am, 20 May 2019
Does earthquake insurance need a fundamental rethink as private insurers trim their books and EQC gets out of contents insurance?
Kathryn Ryan speaks with the minister responsible for the Earthquake Commission, Dr Megan Woods.
Changes to the Earthquake Commission Act come into affect on July 1st.
They include an increase in the cap on EQC residential building cover from $100,000 to 150,000, a withdrawal of contents cover, and more transparency if earthquake claims have been made on a house in the past.
Related: Risk to Home Insurance
Form insurance manager Melissa Heath thinks her message to New Zealander homeowners is a scary one.
The former insurance manager, who specialised in post-quake disaster recovery, says insurance in New Zealand is changing rapidly and too many homeowners are not aware.
Those receiving huge bills from their insurance providers will know about it.
This video is also available here: https://youtu.be/CTXN3_aRHK4
* Frank Film – Changing South is funded by NZ on Air to produce South Island stories.