Latest Articles

Feature

Lessons from Christchurch

By Eric Crampton and Bryce Wilkinson, with Jason Krupp, NZ Initiative

The Christchurch earthquakes were a massive wake-up call for insurers, domestic and global. In 2014, Treasury estimated the rebuild cost at $40 billion, 20% of GDP. A more up-to-date estimate is likely to be higher, perhaps $5...

Feature

Sustainability - the key to success

New research shows running a sustainable business is essential for profitability and growth. The research, commissioned by NZI, looked at where businesses are at on their sustainability journey and the benefits of running a sustain...

Stories

Rothbury footprint set to expand

Rothbury says it will continue to work on expanding its footprint in 2018 through its merger and acquisition activity and organic growth.  The broker firm currently has offices in 20 locations around the country and over 260 e...

Feature

Upcoming issues in Canterbury earthquake litiga...

With thousands of unresolved EQC and private insurance claims, the new Govern...

The courts have resolved a large number of contentious insurance disputes arising out of Canterbury earthquake claims. These have involved both private insurance policies and the interpretation of EQC’s statutory obligations....

Feature

What's ahead for 2018?

Minter Ellison Rudd Watts’ insurance team outline their predictions for the n...

There is the potential for an increase in class actions against insurers, increased regulatory involvement in the intermediary market and an increase in funded claims involving insurers. Class actions New Zealand’s...

FSCL Case Study

Agreed value

In December 2015, the insured approached an insurance broking firm to arrange a number of insurance policies. She already had car insurance for a car purchased in November 2015 with a different insurer. Her insurance was for an agreed...

FSCL Case Study

Lack of servicing

The insured owned a fish and chip shop and arranged insurance cover for material damage through her broker. The fat in the shop’s deep fat fryer overheated and caught fire destroying the shop. The insured made an insurance claim....

Opinion

Who covers the excess?

Landlord fights for tenants to have to pick up the bill

Background Section 269 of the Property Law Act 2007 has been in force now for approximately 10 years.  That is the section that exonerates the lessee for accidental damage to the lessor's property if the lessor is...

Feature

Extreme weather – a threat to business

From record heat to vicious storms and flooding. It’s not a hoax, the climate’s changing and insurers are urging businesses to future proof their companies, and quick. According to Niwa’s chief climate scientist...

Feature

Insurers, brokers told: Little changes won’t cu...

By Michael Naylor, Massey University

The industry of the future may bear very little similarity to the world you work in today. Here's why. In recent years insurance has lagged other sectors in terms of adoption of IT. This technological lagging means that...

Stories

QBE signs on in CBD

QBE Insurance has signed on as the anchor tenant of the renovated office block at 125 Queen St. Through an office leasing process led by CBRE New Zealand, QBE Insurance has confirmed it will be taking 2166 sq m over three levels on...
(March 2018)

Stories

IAG cuts jobs

New Zealand’s largest insurer says it is considering a number of options in response to changing market conditions, and the rising numbers and costs of claims. IAG New Zealand says working with offshore partners is one way it...

Stories

Submissions sought on code

The Insurance Council of NZ is encouraging consumers of insurance and community and consumer groups to have their say on the review of the Fair Insurance Code.  The code sets standards for general insurers who are members of...

Stories

Peters calls for local competitor

Deputy Prime Minister Winston Peters wants a state-owned insurance company. He said the country needed a domestic competitor because the insurance industry was dominated by international planners.  "[We have]...

Stories

Youi drops staff

Youi has cut its New Zealand staff numbers by almost a third. The insurance company was fined $320,000 in December 2016 for misleading sales practices, after the Commerce Commission took it to court. But Michelle Le Long,...

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