Property house owners win flood/storm dispute – Every day – Insurance coverage Information

Homeowners whose property was inundated by water will be covered for their losses after a dispute ruling determined that stormwater, not floodwater, was the initial cause of damage. The complainants lodged a claim with Auto & General after their home and garage were hit by storm and flood waters on February 27 last year. The … Read more

Underinsurance clause hits resort hearth declare cost – Each day – Insurance coverage Information

A hotel damaged by fire should have the claim payout for repairs reduced due to an underinsurance clause, the Australian Financial Complaints Authority (AFCA) has ruled, despite the complainant arguing the amount should be paid in full. The business, which had insured the buildings for $1 million, argued the insurer, Lloyd’s Australia Ltd, should pay … Read more

VietnamCommercial Financial institution for Trade and Commerce : VietinBank Insurance coverage (VBI) and Hyundai Marine & Hearth Insurance coverage strengthen cooperation and share experiences

VietinBank Insurance (VBI) and Hyundai Marine & Fire Insurance strengthen cooperation and share experiences On October 26 in Hanoi, VietinBank Insurance (VBI) held a meeting of the Steering Committee with strategic partner Hyundai Marine & Fire Insurance (HMFI) – the non-life insurance company with the second largest market share in the Korean insurance industry. Thereby, … Read more

Landlord not lined for unpaved driveway accident – Day by day – Insurance coverage Information

A homeowner will not be compensated for accidental damage to his unpaved driveway after a dispute ruling that it did not fall under the defined term of “building” covered by his landlord policy. The complainant lodged a claim after a delivery truck got bogged and damaged his gravel driveway as it tried to drive out. … Read more

China takes steps to help some property builders, increase demand in financial system

HONG KONG, Aug 16 (Reuters) – China will guarantee new onshore bond issues by a few select private developers to support its embattled property sector, sources said on Tuesday, while the state planner said it would boost economic demand and speed up infrastructure projects. News of the planned state profit support for some better-quality private … Read more