Stamford Insurance Steps In To Protect Clients Of CBL Insurance

By on March 6, 2018
Stamford Insurance steps in to protect clients of CBL Insurance

Independent building warranty provider Stamford Insurance says it has stepped in with a new scheme to protect clients of CBL Insurance and "prevent the situation spiralling out of control".

The High Court last month ordered CBL Insurance be placed into interim liquidation on an application by the Reserve Bank as the insurer's prudential supervisor.

The interim liquidators have urged those who are insured by the firm or are beneficiaries of its policies to get advice as to whether they needed to buy other cover or secure additional or replacement financial risk bonds.

Stamford said that within 48 hours of the announcement of the interim liquidation it had secured support from Lloyd's of London "to restore peace of mind to many homebuyers and builders caught up in the crisis".

Read the full article online > The New Zealand Herald -

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