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AMI may shut branches

AMI is reviewing aspects of its nationwide network of retail stores as customer preferences change. Alex Geale, executive manager of the AMI retail network, said it was the biggest of any insurer in New Zealand and that was not goi...

Live News

Code of conduct approved

A code of conduct for financial advice has been approved by the Commerce Minister and will come into effect in about nine months’ time. The code sits alongside the new advice legislation, which creates a level playing field f...

Live News

Insurers praise climate move

Insurers are backing the Government’s Climate Change Response Amendment Bill. Governments will be required to reduce biological methane by at least 10% by 2030 and between 24% and 47% by 2050.  All other e...

Live News

Insurers, brokers welcome levy review

The Government will review how Fire and Emergency New Zealand (FENZ) is funded, a move that is being welcomed by the industry. The FENZ levy has been controversial for many years.  In 2017, the fire service levy for...

Live News

EQC concerns voiced

People are saying they want to see more empathy, transparency, relevant expertise, quality assurance around assessments and repairs, and greater timeliness with claims, in feedback so far to the public inquiry into the Earthquake...

Live News

New Zealanders don't understand insurance: Canstar

Many New Zealanders are missing basic knowledge about their vehicle insurance policies, a new survey suggests. Canstar research showed New Zealanders spent an average of $801 a year on their policies but while 87% said they...

Live News

IAG joins risk-rating

IAG customers in areas that are high-risk for natural disasters or weather events will face higher premiums under changes recently announced by the insurer. IAG, which operates the State, AMI, NZI and Lumley brands as well as...

Live News

IAG gets DVFREE Tick and stands up against dome...

IAG is being awarded the DVFREE Tick by Shine, New Zealand’s specialist anti-domestic violence non-profit organisation, demonstrating its commitment to creating a domestic violence-free workplace where staff can feel safe and...

Live News

Insurance Advisernet and NZbrokers

Insurance Advisernet New Zealand Ltd (“IANZ”) has today announced its resignation as a corporate member of NZbrokers Management Limited (NZbrokers) Shaun Standfield Managing Director for Insurance Advisernet Australia...

PIQ College

The real facts about competency

We have been approached by a number of members recently to clarify what will be acceptable to meet the forthcoming code of conduct for financial advisers. The difficulty is that the new code is yet to be published, although we...

FSCL Case Study

Marine mix-up

Bryan, an experienced mariner, noticed damage to his yacht when it was moored at a marina.   Fortunately, Bryan had insurance. There was some dispute with the insurer around the cause of the damage. However, in the end, the...

FSCL Case Study

Extra excess

Chris owned a small furniture business. He purchased a range of business insurance policies through a broker. One of the policies Chris purchased gave him cover for natural disasters. But when the broker sent Chris the insurance...

Ask an Expert

Wear and tear

Question... My client has a motor vehicle accident whilst towing a trailer where he lost control and spun off the road. The insurer accepted the claim but disputes some of the damage advising it is general wear and tear (this...

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Run-off cover

Question... I am having discussions with an insurer at the moment regarding run-off cover for public liability (PL) insurance. Not for the first time, I have been advised that run-off cover is not required for PL insurance as it...

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Tenant damage

Question... I'm dealing with a material damage policy, taken out by the insured, a property owner. The insured©s tenant runs a backpacking business from the building. The tenant allowed one of their staff members to...

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