AMI clients face hefty premium rises after quake
By Christopher Adams
5:30 AM Thursday Jun 9, 2011
Photo / Natalie Slade
AMI Insurance, which has faced a crisis after Christchurch's February earthquake, has confirmed that its customers are facing big rises to their premiums.
John Balmforth, AMI's chief executive, said policy holders would face average price increases of up to 20 per cent for dwellings, 15 per cent for contents and 4 to 5 per cent for vehicles.
The increases would be larger for South Island customers than for those in other parts of New Zealand, he said, as policy holders from that part of the country had previously paid lower premiums. 'It's a catch-up situation."
He said there would be an obvious financial impact on customers, but some of AMI's competitors were making even larger increases.
Interest.co.nz has reported that AA Insurance is increasing its home premiums by an average of 50 per cent.
Read more at the Granny.
By Christopher Adams
5:30 AM Thursday Jun 9, 2011
Photo / Natalie Slade
AMI Insurance, which has faced a crisis after Christchurch's February earthquake, has confirmed that its customers are facing big rises to their premiums.
John Balmforth, AMI's chief executive, said policy holders would face average price increases of up to 20 per cent for dwellings, 15 per cent for contents and 4 to 5 per cent for vehicles.
The increases would be larger for South Island customers than for those in other parts of New Zealand, he said, as policy holders from that part of the country had previously paid lower premiums. 'It's a catch-up situation."
He said there would be an obvious financial impact on customers, but some of AMI's competitors were making even larger increases.
Interest.co.nz has reported that AA Insurance is increasing its home premiums by an average of 50 per cent.
Read more at the Granny.
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