Good faith for in­sur­ers too

Matamata Chronicle - - Sport In Pictures - ROB STOCK

Deal­ings be­tween pow­er­ful fi­nan­cial ser­vices com­pa­nies and lit­tle peo­ple are riven with dou­ble stan­dards and a crush­ing power im­bal­ances.

We’ve seen a lot of that since the Can­ter­bury earthquakes left fam­i­lies bat­tling to get their homes prop­erly fixed.

The case of Greg Young and Tower in­surance was a case in point.

Young’s house was dam­aged in the Can­ter­bury earthquakes of 2010 and 2011. Tower wanted to re­pair. The man said only a re­build was pos­si­ble.

Cue long and gru­elling court fight.

Long story short: In De­cem­ber High Court found Tower was wrong, Young was right.

The High Court judge­ment re­vealed Tower had kept se­cret a short re­port it had com­mis­sioned which said Young was right that his home should be re­built.

Not re­veal­ing that re­port to Young was a breach of good faith by Tower to its pol­i­cy­holder, the

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