Latest Articles

Stories

Kaikoura on track

The Kaikoura earthquake recovery is progressing well, according to data from the Insurance Council of NZ. The insurance sector exceeded its goal of having a majority of claims settled by the end of 2017. At the end of December...

Stories

Smoother sailing for IAG

IAG’s first-half earnings were buoyed by an absence of natural disasters. Its New Zealand earnings rose to A$119 million in the six months ended December 31, up from A$36m a year earlier. That was mostly due to a 15% dro...

Stories

Suncorp’s general NZ business shines

Suncorp has reported a profit boost of 81% for its New Zealand business unit.. The group reported net profit of A$452 million for the six months to the end of December. In New Zealand, it pulled in $67m. Suncorp New Zeala...

Stories

IFSO gets new chair

The Insurance and Financial Services Ombudsman Scheme has farewelled Dame Paula Rebstock after eight years as chair, and welcomed Sue Suckling as her replacement. “Dame Paula made an outstanding contribution and oversaw...

Stories

Central Otago winemaker wins Enterprising Rural...

Like many other New Zealand rural women, for Debra Cruickshank, growing up in the country was all about putting your boots on and rolling up your sleeves.  “Work was a seven day-a-week job on our Tannacrieff farm in the...

Stories

New face in Rothbury executive

Chris Hughes has joined the Rothbury executive leadership team in the newly created role of executive general manager – broking services and business operations.  “It’s exciting to build more capability to...

Feature

Earthquake loss control technologies for buildings

by John Lucas, Insurance Council of New Zealand

We may all be aware of smart buildings that can automatically control lighting, water, heating and ventilation to reduce operational costs and maintain a comfortable working environment. Increasingly, smart building technology is also...

Feature

Putting your clients first

New rules mean insurance brokers have an extra duty of client care.

You work hard to do your best for your clients. But are you putting your clients’ interests first? As part of the new rules coming into force for all financial advisers as part of the Financial Services Legislation Amendment...

Stories

Brace for climate change

New Zealand needs to put processes in place to deal with the impact of climate change, the Insurance Council says. The first storm of 2017, in early January, is likely to cost insurers more than $27 million. It caused flooding...
(March 2018)

Feature

Total Development a first for New Zealand

In the current boom time of a growing Kiwi construction market, brokers can forge an advantage with commercial property developers by offering faster and simpler insurance for their projects. Developers are embarking on new...

Feature

Risks ahead

New Zealand’s big risks this year are natural catastrophes, extreme weather events and large cyber attacks, a new report suggests. The World Economic Forum has put out its latest Global Risks Report for 2018. The report...

Feature

Court Watch

Minter Ellison Rudd Watts lawyers examine recent insurance court cases – and ...

Assignment of claims A recent decision by the High Court concerns the assignment of full replacement insurance claims. Unusually, rather than the issue being whether the insured could assign the replacement value of the...

IFSO Case Study

Gradual damage

In 2002, the insurer insured his house with an insurance company. In November 2009, he discovered that a water supply pipe in the wall cavity behind the shower had burst. He turned off the mains water valve and contacted the...

IFSO Case Study

Duty to inform

The insured held a house insurance policy with P. In August 2009, they arranged for the insurance to be changed into the name of a family trust they had formed. In February 2011, a significant earthquake struck Christchurch,...

Stories

Levies weigh heavily on insurance

Increasing levies on insurance policies look to have reduced the amount of cover that some policy-holders are taking out. Over the past year, the sector has been hit with two major levy increases. The fire service levy...

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