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Church insurer stops cover for acts of God

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posted on Sep, 29 2011 @ 03:48 PM
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Church insurer stops cover for acts of God


www.stuff.co.nz

The main insurer of churches in New Zealand will no longer cover acts of God – namely, damage from earthquakes.

More than 600 churches are likely to be affected by leading insurer of faith organisations Ansvar NZ's decision to stop providing them with earthquake cover.

Ansvar has handled $700 million of quake-related claims since Christchurch suffered its first big quake in September last year. It collected just $35m in premiums over the same period.

Anglican Insurance Board chairman Don Baskerville said the move to refuse any new earthquake cover, and to renew existing cover on
(visit the link for the full news article)




posted on Sep, 29 2011 @ 03:48 PM
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The irony is obvious, but honestly...I'm not really trying to rub anything in!

New Zealand is only a small country of course - 4.something million people, and the colonial era was strongly influenced by Anglican settlement - Christchurch has/had its famous cathedral right in the middle of town, now a wreck, and many other stone churches of similar construction are in a similar state.

However it also shows that financial mismanagement - having "too many eggs in 1 basket" is not a sole preserve of the big institutions!

www.stuff.co.nz
(visit the link for the full news article)

Google Image searches:

Damaged churches in Christchurch
Catholic Cathedral in Chch
edit on 29-9-2011 by Aloysius the Gaul because: (no reason given)



posted on Sep, 29 2011 @ 03:51 PM
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OMG, lmao. RIght back at ya church.



posted on Sep, 29 2011 @ 03:58 PM
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The irony that churches even need this kind of protection is very grand.

Besides the irony though, I don't see much of a story here.

Would be interesting to see how the churches protest though.



posted on Sep, 29 2011 @ 03:59 PM
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That is funny. Just rename it Acts of Mother Nature and we're back in business.



posted on Sep, 29 2011 @ 04:10 PM
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reply to post by samlf3rd
 





RIght back at ya church.


The church isn't a building.



posted on Sep, 29 2011 @ 04:16 PM
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If earthquakes were an insurable "act of God" what was God's message with the quake that so badly damaged the nuclear plants in Fukushima Japan?


edit on 29-9-2011 by Fractured.Facade because: (no reason given)



posted on Sep, 29 2011 @ 04:19 PM
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New Zealand insurance policies had still covered Earthquakes?? I hadn't realized any major companies still had without adding insanely expensive options for the possibility. So does that mean there are insurance companies in NZ that actually have the resources to pay claims from the BIG quake they had recently?



posted on Sep, 29 2011 @ 04:44 PM
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reply to post by Wrabbit2000
 


Pretty much. also NZ has a state earthquake insurance scheme - teh Earthquake Commission - into which all insured have paid a seperate levy for many years.

The 'quake has wiped out 1 insurer - AMI - which also had "all its eggs in 1 basket" - mainly Christchurch and insufficient reinsurance - the lack of reinsurance allowed it to offer cheaper premiums, as I understand it, and it has had to be bailed out by the NZ Govt.

Also, as I understand it, ther should be no particular problem insuring for earthquakes - as long as you know the actual likelihood & consequence.

I expect buildign codes in Chch will be substantially improved in regard to earthquake protection, and premiums increased, and insurance will be available sooner or later.

But not to old brick and/or stone buildings that are now obviously earthquake risks.....including churches!



posted on Sep, 29 2011 @ 04:51 PM
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reply to post by Fractured.Facade
 


You are so right, because they are big money.



posted on Sep, 29 2011 @ 05:12 PM
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reply to post by samlf3rd
 

In now way do I mean that, I know it was mean to say. I don't wish harm or damage to anyone, we all work too hard for our money, including churches.



posted on Sep, 29 2011 @ 06:31 PM
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Calling every random act of nature has always seemed to me as ignorant to call them acts of God. Like the creator of the entire universe micromanages disasters on this tiny world in one of the billions of galaxies in this universe. The idea of god punishing the wicked with disasters has always been a perverse and backward notion of ignorant humankind.



posted on Sep, 29 2011 @ 07:21 PM
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reply to post by Aloysius the Gaul
 

Thanks for the information. It sounds like a better set up than we have here. It's amazing that the media has essentially just written the NZ quake stories off, but I guess it's a sign of the times we're in. Best of wishes to everyone down there and I hope they get some solid time to recover before something else comes along.



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