Financial Advice

FSCL Case Study

Insurance does not cover daughter’s laptop

The insured travelled to Australia to spend time with her daughter. One day, she accidentally dropped her daughter’s laptop while she was sitting on the couch. The screen became discoloured and eventually stopped working. The insu...

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Boss’s travel goes wrong

Question.. Hope you can assist on a little travel claim as the insurers are declining based on semantics. Our client has a corporate travel policy in place. Our client makes up part of the executive management team and is...

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Insuring against yourself

Question... I have a company who is constructing a building in their own name. They have arranged contract works insurance, but have also asked about defective workmanship. As the building is owned by them, I advised they could ...

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Marital property

Question... Our client had a car that was insured in his name stolen. The claim was recently settled by payment to his nominated account.  His wife has now asked for details of the settlement as she says she is...

IFSO Case Study

Foreign object causes problem

A client held vehicle insurance with the insurer for his tractor. He made a claim, because a clutch circlip dislodged inside the tractor and became caught in the tractor’s transmission, requiring nearly $18,000 of repairs....

IFSO Case Study

What really happened?

An insured held insurance on his contents and vehicle.  In July 2018, a sequence of events started, which included the taking of the vehicle, and a number of burglaries of the contents.  The client reported the...

Opinion

How should insureds approach claim when full ex...

English Court of Appeal says a ‘hornets’ nest’ or ‘can of worms’ is a valid c...

The English Court of Appeal recently overturned the High Court’s decision in Euro Pools Plc v Royal and Sun Alliance Insurance Plc [2018] EWHC 46. The Court of Appeal allowed the appeal in  Euro Pools Plc v Royal...

Feature

Do brokers and insurers owe continuing duties ...

by Andrew Horne and Nick Frith, of Minter Ellison Rudd Watts

A recent case indicates that insurance brokers and insurers may owe a continuing duty to inform customers if circumstances change during the policy term. This will be of interest to brokers and insurers who may have assumed...

IFSO Case Study

Vehicle insurance: how you can help your clients

Last year, the IFSO Scheme received over 1000 complaint enquiries about vehicle insurance. By comparison, we receive very few complaints about financial advisers.  However, your guidance can significantly improve your...

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...

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...

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