HELP - Management Company insurance claim

ummarettes

Hi
I would like some advice / help regarding problem Im having with my management company. Apartment above my residence had a pipe burst during the cold spell in Dec2010. A claim was lodged with insurance company, assessor came out, and quotes were send to him. He approved all quotes for repairs

My management company have since called me to say, they want accept the money from the insurance company, & pay cheaper builders to do the work, and essentially put the remainder into the management company.
This is quite a small management company for small block of 18 apartments. This company is ran by 1 guy on behalf of the residences. He is worried that new years premium will be sky high, so he wants some of the claim money to keep by to be used against next years premium

Can he does this legally?

I've told him I don't agree with this and have demanded that all work be carried out as per the quotes approved by the assessor
Any advise greatly welcomed!
Thanks
P

D3PO

2 words for you. INSURANCE FRAUD.

You can only claim for the repairs and not have some set aside for an increase in premium. Tell him quite frankly to take a jump.

Your entitled to get the job done with the agreed quotes from the insurance assesor. If he doesnt like it tough luck.

ummarettes

Thanks D3PO
That's what I thought. Pure fraud. I just wanted another opinion as I thought I was going mad myself. Time to tell him to go jump


Thanks
Ummarettes