From: Patent Tactics, George Brock-Nannestad


Hello Marie,

thank you for your personal take, which is the individual's take, and
although you (those who are hit) all have individual stories, they all stem
from the same disaster. I am happy that there is an official body in NZ
assisting with compensation (some things are obviously irreplaceable). It is
interesting that your car insurance will cover this kind of damage.

I know the feeling about having paid insurance for many years and to have the
assurance that in a worst-case situation you are helped. This is really the
only place where insurance is worth it. We have never had our dogs and cats
health-insured and rather paid for the consultations and operations, because
it is essentially a cash-flow problem. But in a worst-case loss situation a
replacement-value insurance is very important. The largest premium for such
an event I have ever heard of was at one of the European satellite launches
from Madagascar. That was insured for replacement at a premium of 30%. This
means that the European Space Agency wrote off 30% up front, rather than have
to face the total loss of 100%. It also speaks miles about how actuaries
regard a rocket launch. Basically, all insurance is a game of chance. And
that is why there is small print that you would never meet in a game of
poker.

Kind regards,


George

----------------------------------------

> Thankyou. I was referring to my own circumstances here, but, we are
> covered
> by the Earthquake Commissiom (EQC) for any building or anything attached
> to
> a building and its contents. This includes my house and tandem garage.
> For
> instance, my backdoor step is all cracked and slumped from the quakes and
> because that is attached to the house it is covered by the EQC as is
> everything that smashed inside my house and any damage I have and continue
> to have from the quakes.
>
> My driveway ( next to a creek), which is very long (fits about 7 cars),
> and
> concreted back area is covered by my house insurance and my car, which was
> damaged by wood and stuff falling all over it in the garage is covered by
> my
> car insurance....bloody confusing but once you get your head around it,
> kinda easy.
>
> So, any business is also covered up to a certain level and then the
> private
> insurance takes over from there. My point is, it is better to be covered
> than not. I have paid insurance for years and years for what seems just
> like another bill, it is only now in a disaster that it really makes any
> sense. This is because the people with insurance will get paid out for
> sure
> with EQC and insurance first and those with none, may get just that,
> nothing.
>
> An act of god and a bloody nasty one.
>
> Cheers
> Marie
>
> On Wed, Jan 12, 2011 at 9:25 PM, George Brock-Nannestad
> <[log in to unmask]>wrote:
>
> > From: Patent Tactics, George Brock-Nannestad
> >
> >
> > Hello, Marie and all concerned,
> >
> > earthquakes and floods like those in Queensland are considered Acts of
> God
> > and are usually excluded from insurance coverage. The reason is that so
> > many
> > insured are hit at the same time that the re-insurance companies (that
> is,
> > the companies that insure the insurance companies against coincidental
> > cash-
> > demanding requests) would go bust.
> >
> > In Denmark, there is a state fund that provides some coverage for
> anybody
> > who
> > is hit by flooding, whether by extreme rainfall or storm surges, and a
> > committee decides whether a particular event is to be classified as
> > flooding.
> >
> > Physical protection is the only protection there is, in particular if
> you
> > hold unique items, which archives mostly do, whereas libraries usually
> have
> > things that can be replaced.
> >
> > Kind regards,
> >
> >
> > George
> >
> >
> > --------------------------------------
> >
> >
> > > I believe in preparing for the future and anything can happen. No one
> > > predicted that Christchurch, NZ, would get hit by a 7.1 earthquake,
> and
> > we
> > > have had 4328 quakes since Sept 4, 2010. We continue to sustain
> damage
> > > with
> > > each aftershock on a daily basis.
> > >
> > > Never think it won't happen here as it just does, just look at the
> floods
> > > in
> > > Queensland, Australia, they are devastating. You could have an
> > electrical
> > > fire from you PC, who knows, but never be complacent, be ready and
> > > prepared
> > > for anything......a thug could even decide to nut off in your house
> and
> > > sledgehammer all your discs. Think about it, we live in a crazy and
> > > unpredictable world.
> > >
> > > My advice>>>>>>>>>>Get insuranced now for any event, certainly glad I
> am.
> > >
> > > Cheers
> > > 'living on shakey ground'
> > > Marie
> > >
> > > On Wed, Jan 12, 2011 at 6:03 PM, Steven C. Barr
> > > <[log in to unmask]>wrote:
> > >
> > > > From: "Aaron Levinson" <[log in to unmask]>
> > > >
> > > >> Dear Friends-
> > > >> Like many of you I have a record collection that is of substantial
> > > value,
> > > >> both economic and historical, and in many instances contains items
> > that
> > > are
> > > >> so scarce as to be essentially irreplaceable for all intents and
> > > purposes. I
> > > >> lie awake at night, in bad humor, imagining the catastrophic loss I
> > > would
> > > >> incur if my collection were somehow wiped out.
> > > >>
> > > >> Apropos of this I have considered an insurance policy to cover this
> > > >> eventuality. Can anyone here give me their thoughts, experiences
> and
> > > >> insights into the pros and cons of such a solution to my insomnia?
> > > >>
> > > >> This depends on one important question...?! Do you OWN your
> > > > current living quarters...or are they rented? If the former (own),
> you
> > > > should check your "homeowners" policy to see what your contents
> > > > are insured for/against...then talk to the agent about adding
> specific
> > > > coverage for your records.
> > > >
> > > > If the latter (rent), you will need to purchase insurance covering
> > > > the "contents" of your premises. When doing so, you may need
> > > > to establish exactly what it covers?!
> > > >
> > > > I should do this; however, my house has been standing since
> > > > 1869...and I rigourosly avoid the use of any flame-related
> > > > devices! As well, Oshawa, Ont'o., Canada is well north of
> > > > "tornado country" and not in a seismically-active area...?!
> > > >
> > > > Steven C. Barr
> > > >
> >