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IAG commended for cultural diversity initiative

Insurance giant IAG New Zealand has been lauded for its employee-led initiative encouraging the use of te reo Māori within the company at the 2019 Diversity Awards NZ™. The Te Reo Talk programme received a highly commended ...

PIQ College

The Value of Education

The financial services sector has been overwhelmed lately with legislative change, tightening, loosening and then tightening of regulatory lending policies, housing boom bust cycles and now FSLAA, the code of conduct, insurance contract...

FSCL Case Study

How much support should a broker offer?

A client engaged a tiler, to assist with a bathroom renovation. The tiler engaged a subcontractor to complete one aspect of the renovation. Unfortunately, the clients were not happy with the standard of the subcontractor’s wo...

FSCL Case Study

Communication breakdown

The clients were a couple who lived in a remote part of New Zealand, running a building business as well as a bed-and-breakfast. They arranged liability insurance for their business, as well as material damage insurance for their...

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Risk for storage

Question... Client is an owner/operator of a vehicle recovery and tow business. He never tows on a hook. All carriages are on a flat deck truck or trailer. The vehicle is winched on to the flat-deck or trailer for the purpose of...

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Uninsured driver

Question... A claim has been lodged, accepted and paid for by the insurer. An uninsured third party reversed into the customer's parked vehicle. The uninsured driver was identified. The insurer has established liability...

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Risk transfer

Question... We have a client who ships goods overseas on CIF terms, and therefore has to arrange insurance to cover the goods including when risk transfers to the purchaser. They have suffered a loss which appears to have...

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Exclusion limits

Question... A client was commissioned to build a steel frame on which to place a silo. Several months after it was built, the silo was filled up and the frame collapsed. It has since been found that the failure was due to...

Feature

Safety tips for Lithium Ion batteries

By Stephen Henkin, risk management services, Vero

Lithium ion – or Li-ion – batteries are becoming ubiquitous in New Zealand homes and businesses. They’re widely used to power everything from mobiles and laptops to power tools, e-bikes, scooters and motor...

IFSO Case Study

Meth damage standoff

A trust held house insurance for a rental property . In March 2017, the trust made a claim to the insurer, because methamphetamine testing had shown a composite test result of 66µg, well over the threshold requiring...

IFSO Case Study

Failing crank shaft

In December 2015, a trust arranged insurance on its boat with an insurer. In January 2016, a trustee of the trust was driving the boat when swells developed. He said he went over a wave and the boat landed awkwardly, there was a...

Opinion

Should the existence of double insurance be lik...

by Crossley Gates

Insuring the same risk twice with different insurers is not as silly as it sounds. In the early days of marine insurance, insureds commonly purchased more than one insurance policy to cover the same risk in order to protect...

IFSO Case Study

Advisers should educate clients about gradual d...

The best time for clients to understand how insurance works is before they might need to make a claim, says Karen Stevens, Insurance and Financial Services Ombudsman.  “Advisers have a really important role in educating...

Feature

Who are you, anyway?

Here’s how to build up your personal brand as an independent insurance broker...

Your personal brand is about your reputation and being known for what you do. Have you heard of it? Let me fill you in. Regardless of where you are on the experience scale of insurance brokerage, or how thick your book is, you...

Feature

QBE pledges support

The QBE Foundation has announced its 2019 charity partners, confirming renewed agreements with seven existing partners. The agreements include new and continuing multi-year support pledges from the insurer’s Australia Pacific...

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