And it’s happening right under your nose.
For me, throughout the post-earthquake phase, probably the most critical and cynical practice that I have witnessed taking place right across the city during the course of the settlement of insurance claims, is that of the intentional use of the MBIE Guidelines by the insurance industry (and their complicit ‘independent experts’) as opposed to the standard implicit in the contractual wording contained in most homeowners’ insurance policies – the Building Code. The industry may be saving itself billions of dollars at the expense of a naïve, trusting or uninformed but vulnerable population.
The insurance industry has either conveniently or negligently extended the use of the MBIE Guidelines to scope repairs for the reinstatement of property to include properties which are over the EQC cap.(i.e. properties that have sustained more than $100,000 worth of damage). See my previous post https://thechristchurchfiasco.wordpress.com/2015/03/01/mbie-guidelines-sarahs-view-on-the-matter/. This behaviour often…
View original post 1,116 more words