More Earthquake Case Studies – Insurance and Savings Ombudsman

The Insurance and Savings Ombudsman (ISO) has posted more earthquake case studies on their website here.

In each case there was a dispute between the insured and the insurer which was referred to the ISO for investigation and a ruling.

The issues covered are

• Scope of Cover (4 cases including some Red Zone issues surrounding value)
• Temporary Accommodation (3 cases)
• Loss of Rent
• Non-disclosure (although not stated it appears that the ISO’s decision hinged on a phone call recorded by the insurance company).
• Assignment (not permitted to assign a temporary accommodation entitlement to a purchaser as part of an agreement for sale and purchase).
• Floor Area and under insurance

In reading the cases and better understanding the role and limitations of the ISO, it is increasingly clear that where there is doubt, or a conflict of versions, the benefit goes in favour of insurers.

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