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Viewing entries tagged with 'sum insured'

Insurers backing down from sum insured policies

13 September 2016

Competitive pressure is forcing insurers to back down from "sum insured" house policies, one expert says. After the Christchurch earthquakes, almost all the country's insurers switched their house cover policies from "full replacement" cover - which would pay out whatever it cost to rebuild a house in the event of a disaster - to "sum insured", where the insured and insurer agree on an amount to be covered. Stuff.co.nz. More>