The National Business Review reports today that Wellington apartment owners are facing 700 per cent increases in their insurance premiums.
But the article is accessible only for NBR subscribers.
The article has received the following comment:
“Going uninsured is not an option for body corporates, as mortgagees will require full insurance in order to provide finance.”
It refers to en “enormous” inner city insurance problem.
But the remainder of the article, by Blair Cunningham, is behind a paywall.