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Riskpool advice to Council
Friday 5 July 2013
Riskpool advice to Council
Christchurch City Council has today received advice from Riskpool, its professional indemnity and public liability insurer, that Riskpool will cease cover for council works arising under the Building Act, effective for all claims from 1 July 2013.
This insurance covers the Council’s possible liabilities for building consents issued under the Building Act. The rest of the Council operations remain covered. The Council receives a number of these claims per annum, with a maximum excess payout of $50,000 per valid claim.
Corporate and Financial Committee chair, Councillor Helen Broughton, says, “This is a matter of serious concern to the Council. We are moving quickly to gain clarity on Riskpool’s position and what the implications are for the Council.
“The Council is concerned that Riskpool has taken this step. We are seeking legal advice, and will be meeting with Riskpool to discuss the position further.
“The Council will not be able to comment further until legal advice is received.”
ends
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