SearchDelay in company insurance claim
Lin asks:
(updated on Wednesday, February 18th 2015)
We have a property that suffered damages during the earthquake in Christchurch. The property and the insurance policy is in the name of limited company. The company is owned by two shareholders and they are both directors. If there is a change of shareholders or directors then does this impact our entitlements under the claim? It feels like insurance companies in Christchurch try everything they can to delay or avoid paying the full entitlement of the claim.
Our Experts Answer:
Hi there, the insured is the business, not its shareholders and directors. If the directors change, they are subject to the underwriting questions of the policy, but that would not retrospectively impact a claim if the change occurred after the date of event. Kind regards.
Most Read
| Unity First Home Buyer special | 4.09 |
| SBS FirstHome Combo | 4.19 |
| ICBC | 4.49 |
| Kainga Ora | 4.59 |
| Co-operative Bank - First Home Special | 4.59 |
| AIA - Go Home Loans | 4.65 |
| ANZ Special | 4.65 |
| ASB Bank | 4.65 |
| SBS Bank Special | 4.69 |
| TSB Special | 4.69 |
| Co-operative Bank - Owner Occ | 4.69 |
| China Construction Bank | 4.95 |
| Kainga Ora | 4.95 |
| ICBC | 4.99 |
| Nelson Building Society | 5.09 |
| SBS Bank Special | 5.19 |
| ASB Bank | 5.25 |
| TSB Special | 5.25 |
| AIA - Go Home Loans | 5.25 |
| Co-operative Bank - Owner Occ | 5.29 |
| ANZ Special | 5.29 |
| Kiwibank Special | 5.29 |
| BNZ - Std | 5.49 |
| ICBC | 5.65 |
| Kainga Ora | 5.69 |
| Co-operative Bank - Owner Occ | 5.79 |
| SBS Bank Special | 5.79 |
| AIA - Go Home Loans | 5.89 |
| ASB Bank | 5.89 |
| TSB Special | 5.99 |
| Westpac Special | 5.99 |
| Kiwibank Special | 5.99 |
| China Construction Bank | 5.99 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.74 |
| CFML 321 Loans | 3.95 |
| Co-operative Bank - Owner Occ | 4.99 |
| Co-operative Bank - Standard | 4.99 |
| ICBC | 5.39 |
| Kiwibank - Offset | 5.75 |
| Kiwibank Special | 5.75 |
| Kiwibank | 5.75 |
| Unity Standard | 5.79 |
