Insurance denied

Discussion in 'Legal Issues' started by jins13, 9th Apr, 2016.

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  1. RetireRich101

    RetireRich101 Well-Known Member

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    Who incepted the policy?
     
  2. melbournian

    melbournian Well-Known Member

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    yeah initially but got out in one piece after i won the case.
     
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  3. Russ

    Russ Well-Known Member

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    I don't think that AIG is the party to be focus the outrage upon. Blame the causes, not he last counter-party in line.

    1) Certification: the certifier is supposed to inspect and certify that the building is built to code. This is a key protection for consumers, and should be taken seriously - more than it generally has been in NSW lately. I think it was Auburn Council that certified that building. This should be welcome news Newsletter: March 2016 – Supreme Court Finds Certifier Liable for Building Defects – Muellers.

    2) Councils and conflict of Interest: so obvious that the Office of Local Government & Local Government Act has not effectively dealt with such conflicts of interest. This is across NSW, not just in Auburn, but they're famous.

    3) Home Building Compensation Fund (previously Home Warranty Insurance) - why don't the developers have to take out a policy when it's more than 3 storeys high? The bigger the project the HIGHER the need for consumer protection, but the NSW government doesn't want to carry the risk. The risk exists because the certification regime doesn't work and because:

    4) Licensing and prevention of Phoenix developer. It's too easy to get a builder's license, and builders' track records don't follow them through corporate vehicles. Build, liquidate, build again.

    These are failures of government, and we vote for them.

    Don't blame AIG just because it's not paying a claim which arises from a situation that it was not insuring. AIG was on risk for a bunch of insured events that could have occurred, which is what the Strata Building insurance policy was designed for. It wasn't a home warranty policy to cover construction and defects.

    Blame the government, and vote better. It's a joke but not funny. NSW consumers have appalling protection against poor construction and dodgy developers.
     
  4. Azazel

    Azazel Well-Known Member

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    I refuse, they're all useless.
    Plan an extended overseas holiday around election time.