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Myall v Tower Insurance – no further appeal

The Supreme Court in Myall  v Tower Insurance Ltd [2018] NZSC 35 has refused an application by Mr Myall for leave to appeal the Court of Appeal decision about professional fees on a house rebuild and the apportionment of the rebuild cost based on under insurance.  It said that notwithstanding obvious errors by the High Court and Court of Appeal there was no question of general or public importance.

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EQC ordered to pay 75% of legal costs

In Deo Gratias Developments Ltd v Tower Insurance Ltd & anor [2018] NZHC 767 the High Court (Osborne AJ) ordered EQC to pay 75% of the legal costs and disbursements a homeowner incurred in Court proceedings against EQC and the insurer where EQC paid cap after being sued and the insurer settled the claim one month after EQC paid cap.  In the three other proceedings considered in the judgment the Court ordered EQC to pay 50%.  EQC had argued that 50% was its maximum liability.  The closer the insurer settlement is to the cap payment the greater % of costs EQC ought to pay.

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Earthquake Claim Limitation – IAG & Southern Response

Here is a short video I did about the limitation act(s) applying to earthquake claims and the extended limitation period(s) that apply to claims against IAG and Southern Response.  For IAG it is 30 June 2018 and Southern Response it is 3 September 2018.

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Southern Response – Misleading DRA’s

Here is a short video that I did about the practice of AMI/Southern Response in concealing costings from homeowners.  Homeowners that settled before 1 October 2014 are likely have short settled by in some cases hundreds of thousands of dollars.  The first Court trial on this issue starts 21 May 2018.

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Insurance claim/policy assignment

Here is a short video I did about the issues with assignments of EQC and insurance claims.  We are still waiting for a Court of Appeal decision after a hearing on 15 February 2018 about the ability to assign insurance claims/proceeds for replacement costs.

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Interest on EQC payments

Here is a short video I did about EQC’s liability to pay interest.  If EQC has not paid then a homeowner should sue now to get interest from when EQC ought to have paid.  For a cap payment this ought to be in excess of $30,000.  A homeowner must sue to get the interest.  EQC is very apprehensive about this new exposure.

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Interest on EQC payments

Since the commencement of the Interest on Money Claims Act 2016 on 1 January 2018 EQC is now exposed to a liability to pay interest on late EQC payments from the date the money ought to have been paid until it was paid.  Previously the Court said it would only order EQC to pay interest as part of a substantive court judgment for the unpaid amount(s).  The new liability applies to court proceedings commenced after 1 January 2018.  It is an incentive to sue EQC now if you have not been paid as interest will be a substantial amount.  Here is a link to an interest calculator.