“I have been told that the Portugese Civil code obliges construction companies to take out a special insurance to protect/guarantee deposits paid by purchasers for apartments sold off-plan. In other words, if the development is not completed, the purchaser can claim a refund of deposit from the guarantee scheme”.

When I brought in 2003 in that situation, I was told it was enshrined in law that if the developer didn’t deliver on time, that it would have to pay me double the deposit amount if I then chose to pull out after the deadline had passed. That may have changes in 7 years, so please don’t take my word on it. Are you one of the Porto Santo ‘victims’ by any chance?

http://www.thestar.com/news/article/761755–olive-will-greece-set-off-global-debt-bomb

A politicians comment you will see on tomorrows blog says “Anyone who is a lifelong taxpayer is entitled to be treated with dignity and respect when ill”. The ‘lifelong taxpayer’ bit worries me a little.

The existing UK parliamentarians are so much better at it than him.

They even cry when explaining themselves!

Bet Bertie hasn’t thought of that one!

On another matter, insurance is now fully explained and I promise another topic.

What about Bay trees?

Funchal, Monday, February 8, 2010

Damage caused by natural disasters are eligible for compensation …
if there is insurance.

Most of the damage without compensation
Who does not have insurance does not blame himself or someone not safa
Date: 08/02/2010

The water came on down and flooded the house. The collapse came into
the kitchen and damaged furniture and appliances. The car was parked
on the street, the front door, and was dragged by the flood. No way to
be compensated for those losses?

Yes, if the goods are safe and if there is a specific clause to that
effect. Yes if the responsibility for damage can be laid against a
third party (public or private) not only to St. Peter.

This is, roughly, the situation facing those who are victims of
natural phenomena that may or may not be accelerated by human
intervention. And the problem is that, except for compulsory insurance
associated with bank loans for house purchase, the majority of homes
in the region (especially rural) are not insured. Many do not have a
town license.

Moreover, the procedure of claims for compensation is time-consuming
(often comes to the courts) and insurance companies try as much as
possible to evade their responsibilities and ‘passing the buck’ to
others. But even without ‘meter’ insurance, is generally of the Civil
Code as those who cause others to be obliged to pay compensation. If I
owned a eucalyptus plantation and a fall in the neighbor’s house, I am
obliged to pay compensation. Although it was the wind to bring him
down. The same happens with a wall that drops to a neighbor’s
property.

DAILY contacted by the lawyer Cró Moses explains that it is not safe
for my damaged property ceases to be compensated. Unless the injured
have contributed to it happen. For example, if you dig a wall, with
rain or not, eventually collapse.

The weather did not serve as a refuge for local authorities,
government or utility road to evade responsibility. A hole in the road
badly signposted, negligence in cleaning tambourines, which works
upstream, all of this, by act or omission, may be charged and accrue
to those who were injured. In this case, the barrister said Cró Moses,
nor is it necessary that there is a fault but “objective.”

Meanwhile, Armando Abreu, former councilman in Funchal, and
professional in the insurance industry all his life explains that
everything depends on the ‘franchise’ insurance. For those who have
it. And there is a secure base and other terms of membership.
Everything depends on the clauses. Since it is a fallacy called the
insurance ‘against all risks’. Never is so and there are few who have
it (only required for cars acquired in ‘leasing’ or ALD).

And even the so-called ‘law of disasters’ (a state of emergency)
privileges to compensate those who have insurance. Moreover, Armando
Abreu said that after the storm, the cases reported to the insurers
are the flood.

“The insurance may also include the phenomena of nature. But these
terms must be expressly stated in the policy,” he said. In general,
the multi-hazard housing includes some phenomena of nature. “Then
there is the right to compensation from those who contributed to the
risk that happen,” he said.

It is legitimate cause for exclusion of the right to compensate those
who ‘goes down the way’. For example, who built on a cliff or near a
water line. But the entity that has licensed, if the building is
licensed, as may be required to assume their responsibilities.

Related Legislation

Civil Code (specifically Articles 1414. Of the 1438. º).

Decree-Law 72/2008, of 16 April (which establishes the legal regime of
the insurance contract, Article 149. To 151. º).

Decree-Law No. 268/94 of 25 October (which establishes the regulations
of the horizontal property regime).

Norm No. 16/2008 of 18 December (to adopt the uniform of the General
Conditions and Special Conditions uniforms, the Insurance Policy
Required Fire).

Norm No 14/2008-R, 27 November (to adopt the uniform general
conditions of the Policy of Compulsory Insurance of Civil Liability).

Decree-Law No. 291/2007 of 21 August (Approves the scheme of
compulsory insurance of motor vehicle liability).

Decree-Law No. 153/2008 of 6 August (Amendment to Article 64. Of
Decree No 291/2007 of 21 August, which approves the scheme of
compulsory motor vehicle liability).

Questions and answers

SOURCE: Insurance Institute of Portugal

The house insurance is mandatory?

It is mandatory, especially the fire to the buildings in a horizontal
property regime (commonly called “condominiums”), pursuant to
paragraph 1 of Article 1429. Of the Civil Code.

What information must appear on the insurance policy?

The policy includes the entire contents of the agreement between the
parties, including general, special and private.

What the insurance covers all risks housing?

It aims to ensure buildings and / or fillings of housing.

You can guarantee, for example, to repair the damage caused to the
building or part thereof and filling the house, along with coverage
liability of the insured person and his family as well as compensation
for death of the insured or spouse, as a result fire, lightning,
explosion or theft.

Works with guarantees on pre-determined (minimum coverage required by
law), with the possibility of adding other toppings additional pay
plus premium. Unless otherwise are also guaranteed the damage caused
by mechanical action of lightning, explosion or other similar
accident, even if not accompanied by fire.

The obligation to insure may be met through the procurement of
insurance mode “Fire and Elements of Nature” or included in a secure
“Multi-risks.

What are the obligations of the insured (policy holder) in case of accident?

Use all means at its disposal to reduce or prevent further damage from
the accident and save the insured property.

Do not remove or alter, or allow to be removed or altered, any traces
of the accident, without the prior consent of the insurer.

Provide the care, conservation and improvement of salvage.

Inform the insurer in writing no later than eight days, the
verification of a claim indicating the date, time, known or suspected
cause, nature and amount of probable losses, and any other information
needed to characterize the occurrence.

Provide the insurer with all necessary evidence, and all reports or
other documents that has or will obtain.

What are the obligations of the insurer in case of accident?

Acting with promptness and diligence with regard to investigations and
examinations necessary and the assessment of damages.

Compensation shall be paid upon completion of the necessary
investigations and examinations and determining the amount of damage.

If the insurer fails to pay the compensation due within 30 days, being
in possession of all the elements necessary for this purpose, because
not warranted or that he may be liable, must pay the legal interest
rate on the amount of compensation .

What form of payment of compensation?

The insurer paid compensation in cash, where the substitution,
replacement, repair or reconstruction of the insured property
destroyed or damaged, it is not possible.

How to guard against damage to third parties?

There is liability insurance that the insurer covers the risk of
incorporation, the assets of the insured is required to compensate
third parties. There are liability insurance mandatory and optional.

No insurance can insure all the risks?

No contract of insurance covers all risks. In addition to compulsory
insurance of civil liability can also be employed, among other
safeguards, the so-called ‘life insurance own’. This insurance
contract covers losses incurred by the insured vehicle even if the
driver is responsible for the accident, in accordance with the
coverage that may be employed.

Rapid testing of all the poncha types available to the electorate will create mass numbness!

Der will be El Presidente!

Where will you pension off Bertie, Der–St. Helena?

Can any reader tell me definitively if this is true? Is it obligatory for developers to subscribe to such a guarantee scheme?

Any information will be very gratefully received. thanks

http://www.dnoticias.pt/Default.aspx?file_id=dn04010207080210

Thanks
Paul