The insurance professionals online magazine
Feature
New Zealanders who own properties at risk of floods or earthquakes may be unable to afford insurance coverage, the Reserve Bank warned. Rising premiums may make home insurance "increasingly unaffordable" for households, a...
Feature
Insurance & Financial Services Ombudsman Karen Stevens said proposed changes to insurance contract law would make contracts “fairer and easier to understand” for consumers. Stevens described the Contracts of Insuran...
Feature
The Insurance Brokers Association of New Zealand urged home buyers to think with their heads rather than their hearts when committing to a real estate purchase. New actuarial data supplied to Treasury shows house insurance premiums...
Feature
New research from insurers AMI, State and NZI revealed that 86% of people would now consider climate risk when choosing a home, compared to 55% just two years ago. The research found that house hunters rank weather and natural...
IBANZ Forum
QUESTION: Insurer has declined a claim on the pool due to the hydrostatic pressure. Details of events: 1. Dec 21: Pool is emptied and checked by pool specialist for painting. Hydro...
IFSO Case Study
Ani* made a claim on her mechanical breakdown policy when her car’s transmission failed. However, her claim was declined because she had breached the service requirement condition in her policy. This condition required Ani to...
Insurance
NZI celebrated its 165th birthday, marking its status as one of New Zealand’s oldest brands. Established in 1859 - 39 years before the first car arrived in NZ - the company began life underwriting policies from a local...
FSCL Case Study
Peter* owned a franchise business, which had a number of insurance policies (material damage, public liability and commercial vehicle cover) arranged by a broker. In mid-2021, Peter was looking to change insurers because he wanted to...
Appointments
Lockton New Zealand has appointed Michael Harrow as head of corporate risk, stepping into the role vacated by new CEO Craig Buckle. Lockton said Harrow’s appointment reflected the firm’s “continued ambition...
Feature
More than 55% of drivers have admitted to being distracted on the road, while 21% say they have driven under the influence of drugs or alcohol, according to an AMI survey. The insurer’s national survey found that mobile...
