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Tower Limited (ASX:TWR) (NZX:TWR) says it will offer full replacement cover for any New Zealand home lost to fire in a move away from industry standards.
The industry moved to sum insured in early 2013 as a result of the Christchurch earthquake and many homeowners have struggled to understand the policy since it was introduced.
Full replacement for fire applies to any new Tower house insurance policies purchased from today as well as all existing Tower house insurance policies excluding a small proportion of very old homes covered by present day value policy.
Tower reported a net profit of $12.32 million for the half year ended 31 March 2014.
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Last
$1.60 |
Change
0.040(2.56%) |
Mkt cap ! $548.0M | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.60 | $1.56 | $24.36K | 15.55K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $1.50 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 12717 | 3 |
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| TWR (ASX) Chart |