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公司今天发的邮件，一些保险公司新的policy 不再offer rent-default cover.
The COVID-19 pandemic has been declared a catastrophe by the Insurance Council of Australia and decisions being made by all Governments is having a profound effect on our economy. One area being hit hard is the domestic rental market and understandably, we have seen a spike in landlords taking out rent-default cover due to the financial distress expected to be experienced by renters and Landlords alike.
Considering the current circumstances and the associated uncertainty it creates, both IAL and Hollard have made the difficult decision to temporarily suspend the Rent Default optional benefit for any new business, as well as for any new endorsements to existing policies. This came into effect on 27 March 2020 for Hollard and 28 March for IAL. Both IAL and Hollard will continue to offer Landlord Insurance without a Rent Default option.
In respect to existing AIG policies, from 28 March, AIG will not be accepting any new endorsements for rent default covers.
In respect to renewals, IAL will continue to offer renewals and support existing cover. Hollard are assessing their approach in the coming days and will provide an update as the situation develops.
This was a difficult decision for all underwriters to make and is a similar approach to putting embargoes in place when bushfires are approaching. It will be reviewed as more information comes to light about how successful Government and community actions have been in dealing with the pandemic.
FAQ’s
Q. Will I be covered if the tenant loses their job and is no longer able to pay rent?
Our policy provides cover for tenant default irrespective of the cause, subject to all the terms and conditions of the policy.
Q. The policy requires my client to take all reasonable legal steps to remedy non-payment, is this still applicable?
We are reviewing this as it’s not completely clear given recent federal and state government measures to prevent tenant eviction. Decisions around financial hardship are expected soon. Once these have been published, we will be able to provide more concrete guidance. In the meantime, all claims will be assessed following our current procedures and are subject to the terms and conditions of the policy.
Q. What happens if my client needs to change the conditions of the lease agreement?
It depends on the agreement made with the tenant:
• If the rent-payable amount is reduced, should the tenant default on payment, the policy would respond based on the latest rental, in this case the reduced rental amount. The difference between the original rent and the newly agreed reduced rent is not covered as this is an agreement made between the client and the tenant and is not a default.
• If your client agrees with the tenant to stop collecting rental payments, the policy will not respond as it is an agreement made between the client and the tenant.
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分享一下找工作的感受 (2005-5-1) hugosong 
楼主:seaweed82
发表于 2020-3-30 19:18
