AIG has won a claim dispute after a warehouse owner failed to reveal that he owned half the business renting his property, or make it known that it had been placed under administration prior to the policy commencing.
The landlord bought an AIG business insurance policy via his broker for the large warehouse in January 2019. It was in his name and the name of a holding company.
The tenant had ceased operating when the policy was incepted, although its owner was regularly at the warehouse, and had not made rental payments since the previous October. The landlord arranged the AIG policy for the tenant as it was unable to meet premium payments.
He lodged a claim around seven months later for theft of copper wiring and extensive damage. He w…
Read the full article at: https://www.insurancenews.com.au/daily/landlord-with-undisclosed-ties-to-robbed-tenant-loses-claim-dispute
