& you thought it was a con... tut tut

[cirianz]

Announcement on the news this morning:

The head of the insurance commission in New Zealand has announced that it will not insure people living in flood risk areas on the grounds that something might actually happen.

I'm still pmsl.

I doubt you've been following the NZ news, so I'll fill you in.
an area of New Zealand that's totally meaningless to you,
recently had the misfortune to be flooded twice in a row.
approximately a week apart I believe.
People in the area were just starting to get their homes sorted & cleaned from the first flood when the second arrived.
Farmers in the area lost an average of 1/4 of their feedstock & are having to slaughter a similar amount of their livestock just to cope.
Obviously this is going to hit the area really hard, not just with the present trauma, but also with the long term recovery.

But apparently not nearly as hard as it is hitting the insurance companies, poor babies.
Apparently, with the cost of building products so high & everything, they've just had to say that they will no longer insure these people unless they move to safer grounds. & those who cannot move (eg the farmers) must raise their houses by at least one meter before the insurance companies will consider covering them.
They don't mind taking your money if they're never going to have to pay it back. But, if there's any real chance that this might actually happen, then, sorry mate, you're out of luck.
And you thought they were rip-off merchants... shame on you!

 

[muckshifter]

There is something about insurance companies I have never trusted ... so much so, I do NOT have, and never have had, ANY insurance for anything, not even for my life.

 

[Alf]

Good for you Mucks....
Living life on the edge, like a motorcycle gang renegade

Well, heres hoping you never need insurance. cheers!

 

[floppybootstomp]

Only thing I've got insured is the motor, and that, really, is because the old bill can do a check on you in several seconds from a CCTV stillframe.

That, and the fact if you ran over and killed somebody, and you were uninsured, you could be paying out the rest of your life.

I actually really hate insurance companies, banks as well, bloody rip off merchants the lot of 'em

 

[Ian]

There's talk of a similar thing happening in the UK too after the recent floods around Sheffield/Hull.

I've got insurance for the car and flat, but I never bother with it for things like mobile phones etc. Both of these came down a fair amount this year which really surprised me actually, especially the contents insurance.

 

[Me__2001]

only thing i have insurance for is my car and thats only coz i have to