The Archdiocese of New York has filed a lawsuit against its long-time insurer, Chubb, accusing the company of evading its responsibility to cover settlements related to clerical sexual abuse claims. Cardinal Timothy Dolan alleges that Chubb is neglecting its contractual obligations despite receiving billions in premiums from the archdiocese over the years. In a letter Read more
The Catholic Church’s insurance company in Australia has been given until July 17 to produce almost 2000 files relating to child abuse. On July, 10, Australia’s Royal Commission on Institutional Responses to Child Sexual Abuse ordered Catholic Church Insurance (CCI) to produce the files. CCI was ordered to provide a list of relevant material by Read more
Administrative director of the Archdiocese of Wellington, Dave Mullin, says “We are not here to have big flash buildings and pay insurance premiums … we are here to help those in need.” Mullin said earthquake premiums had more than doubled since the Canterbury quakes, despite insurers offering less cover. Faced with rocketing insurance premiums, the Read more
Last week the High Court at Auckland approved a plan proposed by ACS (New Zealand), known as a scheme of arrangement. ACS New Zealand is the largest insurer of churches and heritage buildings, and its creditors include Christchurch’s Catholic and Anglican cathedrals. In February the company, formally known as Ansvar, changed its name to ACS (New Read more
Expected increased insurance premiums for historic Dunedin churches have been likened to a “tsunami about to hit”. Dunedin diocese’s general manager Stuart Young said parishioners were ultimately the ones who would bear the costs of increased insurance premiums, brought about by the Christchurch earthquakes. “It is a tsunami about to hit us. We face a Read more
Church insurer Ansvar Insurance, which has insured 75 percent of New Zealand churches, is planning to manage a phased exit from the New Zealand market as a result of the prohibitive cost of reinsurance following the series of earthquakes in Canterbury in 2010 and 2011. In September 2011, Ansvar Insurance has revealed that it would cease writing Read more
A landmark Newtown church deemed to be an earthquake risk will shut its doors due to dwindling worshippers and rising insurance premiums.
The original St James Presbyterian Church was built in 1882 and replaced with the current wooden building on Adelaide Rd in the early 1900s opposite Wellington Hospital.
Read the article...The company which insures most of New Zealand’s churches has today announced that it will no longer provide them with earthquake insurance.
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There could be some unpleasant shocks ahead when insurance for the catholic churches in the Christchurch region come up for renewal in November. Christchurch diocese financial administrator Paddy Beban says, “Our brick churches will generally be at the higher end of the risk scale and we can anticipate increases.” If the experience of other denominations Read more