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PIQ College

What are ethics?

By Rod Severn

When we talk about “ethics” we are referring to a philosophy of dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and...

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Not sick enough

Two people had planned a safari tour to Africa. Both obtained travel insurance policies from the same insurer. A month before their trip, one man got ill and his GP declared that he was unfit to travel for the next three months.  H...

FSCL Case Study

How many excesses?

The insured ran an automotive glass repair company. In 2017 his company had to replace 144 windscreens that had sensors in them. The workmen who did the replacements did not recalibrate the sensors after replacing the windscreens. This ...

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Cover for missed flight

Question: We have a client insured under a corporate travel policy. One of their staff missed flights and had to get new flights due to a spelling mistake in their name on the tickets. This error cost $4500 to fix. The...

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What counts as ‘internal’?

Question: We have a situation with a leak under the driveway within a residential property. Under the home definition the driveway is included as long as it is within residential boundaries. The client has a leak...

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Timing concerns

Question: We are looking at changing general liability providers for a plumbing business. There are no known claims or circumstances likely to give rise to a claim. Due to the nature of the plumbing industry and the...

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Who’s out of pocket?

Question: The client is a franchise motor vehicle dealer which includes own workshop. They were contracted to carry out a factory recall repair on a tractor which required removal of the motor by the insured and the...

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How many times is levy due?

Question A number of classic cars are held in a museum. The broker and insurer agree to insure the vehicles under a material damage policy whilst on display. The broker supplies the list of vehicles to the insurer each year and...

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Pre-settlement insurance

Question A client has agreed to purchase a house over which the seller holds home insurance. When the property goes unconditional the purchaser wishes to undertake some building/renovation work prior to settlement. Both...

Feature

2019 a pricey year for insurers

Provisional results show that insurers spent more than $118.8 million last year responding to severe weather events, with more than 18,000 claims made. "What was looking to be a benign year for extreme events changed in the...

IFSO Update

Financial advisers are key to managing client e...

Karen Stevens, Insurance and Financial Services Ombudsman, says the best time for consumers to undersand insurance is before they need it.  “It’s both our message to consumers, and to financial advisers who belong...

Opinion

Two insurers face litigation because of poor po...

By Crossley Gates

We look at two recent court decisions, one in the Court of Appeal of Western Australia and the other in the High Court of New Zealand, where poor policy drafting led to policy interpretation disputes. In both cases, the courts...

IFSO Case Study

Broker, client dispute phone call

In September 2006, through the broker, a company arranged cover for a refrigeration truck.  In or about September 2009, the company’s director had a telephone discussion with the broker, about adding an endorsement to...

IFSO Case Study

When is your vehicle no longer your vehicle?

In August 2016, through a broker, the insured arranged insurance on her vehicle. The vehicle was endorsed on to her existing farm package with her insurer. There were no nominated drivers added to the policy. In August 2017, the...

Feature

Police Health Plan gets tick

The Police Health Plan which is administered by the Police Welfare Fund, has been awarded the Consumer NZ People’s Choice Award for 2019. The award is the result of Consumer NZ’s customer satisfaction survey of health...

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