The interim liquidator of CBL Insurance has warned policyholders that it's not in a position to pay any claims.
The insurer was put into interim liquidation on Friday, creating uncertainty for the owners of thousands of recently built homes covered for shoddy building work under 10-year guarantees backed by CBL Insurance.
These include many issued on homes built by the New Zealand Certified Builders trade association.
Interim liquidator Kare Johnstone from McGrathNicol warned: "CBL Insurance is not currently in a position to make any claim payments to any beneficiaries with a claim made under their insurance policy or bond. Insureds and beneficiaries should take appropriate measures to minimise their losses."
READ MORE:
* Thousands of recently built homes covered by guarantees from CBL
* High Court places CBL Insurance in interim liquidation
from
http://www.stuff.co.nz/business/money/101837952/Homeowners-told-CBL-Insurance-not-in-a-position-to-pay-claims
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