Settling out of scope claims when dates for dwelling repairs are unknown

What are the options for settling out of scope claims when an owner is in a multi-dwelling or cross lease situation and dates for dwelling repairs are unknown and the insurance company wants to finalise settlement?

Asked: 16 November 2014

Category: Out-of-scope works

Answers

IAG

25 November 2014
A response to this question is being worked on and will be posted soon.

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Lumley

15 January 2015

Lumley advises:

Insurers are liable for the costs of repair on the date of loss. 
However, Lumley will assess and price the damage at the date of assessment, and will make a cash offer – sometimes a percentage will be added to “futureproof” the payment by allowing for cost increases due to delayed repairs. 
There is no option for a managed repair as Lumley does not have the resource to handle this situation available.

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Southern Response

25 November 2014
A response to this question is being worked on and will be posted soon.

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Tower

25 November 2014
A response to this question is being worked on and will be posted soon.

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