From Tom Member of BFCSA
Not sure that our model fits exactly with the US but it would certainly fit their style, unscrupulous and unethical. When we lost 3 properties in the Brisbane floods of 2011 we were covered with full comprehensive insurance even to the point of Landlord Protection. Unfortunately, we were insured with CGU Insurance (dont ever forget that name), they refused our claim and I believe everyone else's as well. They used flimsy definitions and, even though we fought this through FOS, yes, you guessed it...we lost the battle on an arguement I felt sure we had to win. We had three different legal property searches but not one showed that any of the properties were flood prone.
They were nowhere near water and were in an elevated position. I just hope that the Royal Commission, when it does come also includes Insurance Companies as well. After all we shouldn't forget just how closely related they are to the banks should we.
Royal Commission Imperative