The Insurance Council is warning owners of earthquake-damaged homes in Marlborough that banks are cracking down on insurance pay-out spending.
The message was given at a community meeting last week in the small township of Ward, where residents are among those in line for cash settlements to handle their own rebuilds and repairs.
But a lawyer with expertise in the insurance area said navigating the fine print was tough for many, and a government-backed advisory service was still needed.
Insurance Council chief executive Tim Grafton said the conditions around insurance payouts were long-standing, but recent changes to how settlements were paid had highlighted the rules.
For further information or advice related to earthquake matters please contact one of our team of expert insurance lawyers specialising in earthquake claims;
Michael Wolff by email michael.wolff@morrisonkent.com or (04) 495-8919
Richard Caughley by email richard.caughley@morrisonkent.com or (04) 4958903,
