Two years of insurance woes in Canterbury
Tue, 04 Sep 2012 7:00p.m.
Two years on from the first earthquake, people in Canterbury who are struggling with their insurers are starting to get hacked off.
Tonight Campbell Live looks at the work of an organisation called Insurance Watch.
Last month they surveyed 1000 Canterbury homeowners asking for progress reports on their insurance companies.
Various offshoots of IAG were rated worst, second worst, and third worst.
Watch the video for the full story.
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16/09/2012 5:04:41 p.m.
IAG...Do not get a house policy with them . They will not pay the true cost of repair work . They will pay half of it if your lucky ..
9/09/2012 12:57:57 a.m.
Sarah Miles wrote:
Dear John Campbell - I challenge you to do an earthquake story relating to an affected policyholder every week until those private insurers (e.g. IAG's State Insurance) failing to carry out their fiduciary duties to their customers, get the message that their business is going to be seriously affected if they do not start honouring their contracts under the policies for which they are so happy to collect premiums.
If I'm not mistaken one of these large insurers sponsors Campbell Live- is that correct?
7/09/2012 11:18:04 a.m.
C'mon NZ'ers. Put your money where your mouth is! The only thing that will 'encourage' State Insurance to start fulfilling their responsibilities to the people of ChCh asap is for the rest of NZ to remove their business from them until they do. I for one have always held my house, contents and car insurance with State. But not any more!
6/09/2012 6:37:09 p.m.
John I have just made my fourth trip to ChCh in past 18 months and while CBD is opening up and appears active I can't say the same for outlying residential. Either the insurers have money from underwrites and need to start pang their debts or they need to declare insolvency and move on with Govt bailouts. To delay so they can pay from future premium based profits is the equivalent of indent invoicing or ponzie trading - illegal.
6/09/2012 1:38:34 p.m.
chris kerr wrote:
I'am aware of the problems facing home owners in Christchurch with IAG insurance but would like to tell you that State Insurance has be great in my time of need, with claims I've lodged. The assessors were brilliant so from the negative comes a happy customer
5/09/2012 7:51:48 p.m.
to those sitting in their warm homes
there are in excess of 50000 homes in chch with no heating.. services... no money from their claims two years ago
their are people whose house has been demolished BUTTTT they still pay rates insurance an mortgage on a house that has been bulldozed down an its a vacant section..
We need John Campbell and several more armies to get stuck into these aristocratic idiots with no conscience and wake them up to reality..
Its easy to see they dont live in the these circumstances
Can you pay for two mortgages two lots of house an contents insurance two lots of rates
can you dig the liquid faction out of your back yard time after time
If you cant then get behind Campbell live its one of the few arms we have to get whats right sorted
5/09/2012 7:48:24 p.m.
This situation is result of corporate greed and abuse of ordinary NZers by Australian insurer IAG in an under-regulated NZ insurance industry. IAG is Australian owned and has far too much influence in the NZ insurance market.
IAG owns most of the other insurance companies in NZ who are allowed to trade under a different name.
IAG obviously couldn't care less about the plight of Cantabrian earthquake victims or the plight of NZ in general.
Insurers like IAG and State who are now penny pinching and making genuine claimants lives a misery and hiking up the premiums for other NZers on the basis that they have taken a hit with the ChCh earthquakes are just corporate criminals. Insurance companies know exactly how much risk they take in a particular country - they pay Actuaries to calculate this almost to the dollar and they cover themselves by re-insuring off-shore.
Time the whole insurance industry in NZ was subject to independent scrutiny and the regulations governing the industry reviewed and tightened up!
5/09/2012 7:29:57 p.m.
Sam Kircher wrote:
I had to stop watching this, John Campbell you are the rudest p***k i have ever seen. I feel for everyone in Christchurch and am experiencing troubles personally but there is no excuse for talking to anyone like that. Overtime I watch campbell live I get annoyed. He is way too in peoples face and just rude. Even when he is talking to someone on a positive subject he is fake. Horrible person. Sam
5/09/2012 7:27:16 p.m.
re IAG at Rolleston tonight
What a load of hog wash.. an just how pathetic can they be????
As i understand it
The IAG representative says they have 27000 homes under claim
Two years on they have started on 500 homes... whipdee dooo
Does that mean the other 26500 will take another 106 years to repair at their rate
I noted very little apologies offered an I note not refund on premiums
I note no re imbursement of rentals for that duration either
If we owned a business doing that we would be closed down why are they not closed down
5/09/2012 5:25:35 p.m.
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