Case Study

IFSO Case Study

Family fallout

A family trust owned a house.   The trustee of the trust was a trustee company. The directors were a couple and the woman’s mother. The trustee company arranged insurance for the house through its financial ad...

IFSO Case Study

Trust trouble

In June 2017, the insured, trustee of a trust, telephoned the insurer to arrange cover for a planned renovation of a house, including removing and replacing the roof.   He was told there would be no cover for damage resu...

IFSO Case Study

What does it take to prove a prima facie claim?

Twenty-four years of insurance complaints reveal the prima facie claim is still a mystery to many clients, and the Latin probably doesn’t help.  A prima facie claim is what the insured must prove in the first instance - that ...

FSCL Case Study

When two brokers get it wrong

An insurance broker arranged insurance cover for a couple’s home, including a swimming pool. Insurance premiums were increasing and the client asked the broker if he could find a cheaper policy. He offered the couple an...

FSCL Case Study

The stock loss shock

A businessman bought a jewellery store located within a shopping mall. The previous store owner’s insurance broker emailed him a new schedule of insurance in the name of his business. The schedule showed a sum insured of $150,000...

FSCL Case Study

The $84 billion problem:

Underinsurance and sum insured

Underinsurance is a big issue in New Zealand. A 2016 Treasury report stated up to 85% of homes could be underinsured by an average of 28%. Across New Zealand, underinsurance of homes is worth an estimated $84 billion. ...

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