Many businesses have business interruption insurance cover associated with their property damage cover. Insurers are still seeking to reduce payouts based on an argument that the business would have decreased by reason of reduced patronage due to the earthquake and not because of property damage to the insured premises. This is often described as “depopulation.” Insureds ought not blanketly acccept this argument.
Auckland
PO Box 137243,
Parnell, 1052
Tel: +64 27 434 5489
grant@grantshand.co.nz