Archive for the ‘Christchurch earthquake’ tag
Insurance and compensation in the midst of recent natural disasters
In the midst of the “inland tsunami” in Queensland Australia and floods in Victoria, Australia; followed by traumatic earthquake in Christchurch New Zealand; followed by the unprecedented earthquakes in Fukushima and Sendei Japan, loss of innocent lives is no doubt the biggest heartache.
For those who survived these natural disasters, they are faced with a very ugly aftermath. Many have lost their homes and their most valuable possessions. One wonders how many insurance claims have arisen as a result of recent events, and how many has been rejected on the basis that the insurance policy does not cover floods, earthquakes or other natural disasters?
These recent events remind us of the importance to consider the “fine print” when buying insurance, be it home insurance, life insurance, income protection insurace or simply health insurance or car insurance. Don’t expect all insurance to cover for the same things, make sure you know what you are covered for.