Live News
EQC botched repairs pass $300M

The Earthquake Commission (EQC) has now spent more than $300 million fixing botched home repairs in Canterbury, a figure that is likely to eventually double. New figures show EQC has spent $60m on re-repairing earthq...
Government seeking feedback

The Governance and Administration Committee is seeking public submissions on the Canterbury Earthquakes Insurance Tribunal Bill. The policy proposes the establishment of a tribunal that will help resolve outstanding insurance claim...
Royal Commission on general insurance

The Hayne royal commission in Australia has finished examining general insurers, but the industry cannot afford to relax just yet. The executives will breathe a sigh of relief to be out of the spotlight, but further reports are sti...
Marsh acquires JLT

Marsh & McLennan Companies (MMC) has agreed to buy Jardine Lloyd Thompson Group (JLT) for US$5.6bn. The deal will be funded by MMC’s existing cash and debt financing. The takeover has been approved by the...
Second international subsidiary sold

Voluntary administrators of New Zealand-based CBL Corporation have sold the firm’s UK-based European Insurance Services Limited business. According to administrators Brendon Gibson and Neale Jackson of Kordamentha, European...
Catch with shared driveways

Homeowners with a shared driveway are being urged to check their insurance cover after five Whangarei neighbours were left $16,000 out of pocket. When their joint driveway was damaged, the cost of repairing the surface was divided...
Legislation gets unanimous support

Any advisers who were worried that the Financial Services Legislation Amendment Bill might be set for a last-minute change can relax. While the Financial Advisers Act suffered a wide-ranging 11th hour revamp that disrupted many...
Robertson's insurance warning

Finance Minister Grant Robertson says he is concerned that some Kiwis are being priced out of the home insurance market. Speaking at an industry event Robertson said living in Wellington he had seen the effect of recent changes by...
Delayed payment vs no insurance

Getting a delayed payment from an insurer resulted in the same recovery for a business as those with no insurance, research on the impact of the Canterbury earthquakes has revealed. Researchers from Resilience to Nature's...
The definition of "claim"

Can an exclusion in a liability policy that only applies to part of a claim still exclude the whole claim because of the definition of ‘Claim’ and the way the third party has pleaded its claim against the insured?...

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