Christchurch shootings: NZ insurers waive terrorism exclusions

Insurers in New Zealand are waiving the terrorism exclusions in their house, car, contents and commercial building policies for damage caused in the Christchurch shootings.

Most insurance policies contain clauses which allow the insurer to decline any claim for damage to property caused in acts of terrorism.

But chief executive of AA Insurance Chris Curtin said in light of the events in Christchurch, the company would review its policy exclusions and would accept claims for damage caused by the Christchurch shootings.

The terrorism clauses entered New Zealand house, contents and car policies, as well as commercial building insurance through contracts with reinsurance companies.

Insurance Council chief executive Tim Grafton said he expected other insurers to follow suit.

He said: "Terrorism exclusions have been in place for many years globally because insurers cannot obtain reinsurance cover for such events. Reinsurers take on global risks and exclude acts of war and terrorism."