Ansvar New Zealand has stepped back from insuring churches any further because the company did not receive enough premiums to continue financial assistance. The Company has asked the St Luke's Union Church in Masterton to arrange some other insurance provider.
The insurance company has provided amount worth $700million to churches affected due to the earthquake in Christchurch, but in return, the company received premium of $35million. So far, the company had been taking care of the demands of all the churches of the region.
As per Property and finance chairman Owen Prior, the church St Luke has managed to find insurance for it, but the new company has agreed to provide with a partial cover for the loss incurred by the church.
As per Mr. Prior, "The best way to sum it up is it's satisfactory to us, at a price that was in the sort of 40 to 50 per cent increase we expected”.
He further stated that the church had four buildings, and the association had managed to negotiate with the insurance company in such a way that they will not have to face a difficulty while paying the amount required as per the insurance policy.
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