03/11/2025
Buying property? 🏡 Make sure your Sale & Purchase Agreement includes an insurance condition. More buyers are discovering that some properties can’t be insured due to flood, erosion, or climate-related risks, which can derail settlement altogether. Including an insurance condition lets you withdraw or renegotiate if cover can’t be obtained on reasonable terms. Read more from LawNews here: lawnews.nz/property/buying-a-property-ensure-your-agreement-has-an-insurance-condition
LawNews staff As New Zealand’s flood, erosion and landslip risks escalate, insurers and banks are driving an emerging crisis in the housing market. Led by Tower, insurance companies are quietly updating their climate models, red-lining thousands of at-risk properties in flood or inundation zones a...