A lobby group for the captive insurance industry claims New Zealand could miss out on millions of dollars of economic benefits if it does not regulate foreign-owned companies.New Zealand Captive Insurance Association president…
More than 1,000 flood victims make insurance claims
Saturday, November 21, 2009
THE country’s largest insurance company dealt with a staggering 1,042 claims yesterday as its call lines were inundated by flood victims.
Hibernian Aviva spokesman Alan Tyrell said it was “a very significant increase” in daily activity as the company normally deals with about 2,000 claims in a week.
Mr Tyrell said the company had put extra call handlers on duty and they would be working again today in anticipation that many more claims for flood damage will be lodged.
The claims lodged related mainly to property and car damage due to flooding and a large percentage came from the west of Ireland and the Cork area.
Mr Tyrell said the company was advising home owners in flooded areas to exercise extreme caution in the coming days as the weather is predicted to remain stormy.
Meanwhile, the Irish Insurance Federation (IIF) has advised householders to take sensible precautions to prevent further damage to their property.
IIF spokesman Michael Horan said householders should, if possible, move furniture to an upper storey.
“There is no doubt that flooding has already caused extensive damage, particularly in the South and west of the country. However, it is too early at this stage to estimate the cost of the flood. This figure will not be available for at least three to four weeks,” Mr Horan said.
“Householders who have suffered damage should contact their insurers as quickly as possible. Insurers are working hard to ensure that policy-holders’ claims are handled quickly. Many insurers have emergency helplines for their customers,” Mr Horan said.
He reminded policyholders that household buildings and contents insurance will usually cover damage caused by flooding. Damage to cars is covered by comprehensive insurance policies.
Mr Horan said insurers will usually pay for the cost of temporary repairs, so people should ensure they keep receipts.
who’s sane asked:
Which would you chose; to go in debt to pay for insurance in case something happens so you do not lose your home? Or not pay for insurance and hope to god nothing happens bad enough to make you lose your home anyway by not having insurance?
If you had to pay your insurance and do not currently how would this affect you, and what would you do?
dudefornow14 asked:
1: What is the type of insurance that covers bodily injury and property damage to others?
liability
uninsured motorist
comprehensive
collision
2: What is the type of insurance that covers you when you are injured by a hit and run driver?
liability
uninsured motorist
comprehensive
collision
3: Insurance is based on the concept of ________ and __________
profit and loss
risk and loss
risk and return
profit and cars
4: Which type of insurance is usually required if you finance your car purchase?
Medical Payment Insurance
Towing Insurance
Rental Insurance
Collision and Comprehensive Insurance
5: Which of the following is not a way that a teenager can save money on insurance?
Getting on his or her parents’ policy
Getting good grades
Driving penalties
Driver experience
6: Accidents that must be reported are ?
those that caused minor damage or harm
those that have been fatal
all accidents.
pissu_kolla asked:
I have been told that i need different types of insurance to supply coffee/tea to a store. Somethings that have crossed my path are bonding, liability insurance. Can someone explain this to me please?
any ideas to where i can also get this type of insurance from?
