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.
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