Financial Advice

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Tenants and carpet

Question... A tap was left on in a commercial building. Flooding caused saturated carpets and damage to walls and skirting boards. The LA is suggesting split the cost 50/50 as the tenant is responsible for the carpet per ...

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Loss of warranty

Question... We have a claim with significant damage, but not yet looking like a total loss, on a six-month-old digger. While the repairs are being undertaken by the official manufacturer, they are saying that the repairs will vo...

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Who to take directions from?

Question... My clients have recently separated, and their house and contents policies are in joint names. One party has moved out into another jointly-owned home. The separation, after many years of marriage, is far from ...

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Credit card definition

Question... Is a "fuel card" deemed to be the same as a "credit card" ? Client has had a fuel card stolen and used. We are trying to put a claim under a crime policy but there is not definition under the...

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Coronavirus and travel

Question... We appear to have an unusual situation with travel policies and their response to the coronavirus. In general terms, the current advice is as follows. For any travellers proceeding with travel plans, there is...

FSCL Case Study

Covid-19 complaints and the importance of clear...

FSCL expects more complaints about insurance brokers as the pandemic effects ...

We are starting to see a few complaints about insurance brokers arising out of Covid-19 disruption and expect we may see more as time goes on. We anticipate that as clients, in particular small businesses, discover that their...

Opinion

Insurance has a critical role in the crisis ahead

Insurers have opportunity to show support for New Zealand in Covid-19 recover...

Navigating the turbulence of a global economic crisis requires insurers to maintain an even ballast between the cargo of customer interests and buoyant solvency.  In New Zealand, rated one of the riskiest for its size, the...

SPOTLIGHT ON

Feature

Regulatory changes on the horizon

By Jeremy Muir, Maria Collett-Bevan, Minter Ellison Rudd Watts

Conduct of Financial Institutions Bill The Government has made it clear that ensuring that financial institutions’ “conduct and culture” result in good outcomes for all customers is a priority, following...

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Not sick enough

Two people had planned a safari tour to Africa. Both obtained travel insurance policies from the same insurer. A month before their trip, one man got ill and his GP declared that he was unfit to travel for the next three months. ...

FSCL Case Study

How many excesses?

The insured ran an automotive glass repair company. In 2017 his company had to replace 144 windscreens that had sensors in them. The workmen who did the replacements did not recalibrate the sensors after replacing the windscreens. This...

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Cover for missed flight

Question: We have a client insured under a corporate travel policy. One of their staff missed flights and had to get new flights due to a spelling mistake in their name on the tickets. This error cost $4500 to fix. The...

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What counts as ‘internal’?

Question: We have a situation with a leak under the driveway within a residential property. Under the home definition the driveway is included as long as it is within residential boundaries. The client has a leak...

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Who’s out of pocket?

Question: The client is a franchise motor vehicle dealer which includes own workshop. They were contracted to carry out a factory recall repair on a tractor which required removal of the motor by the insured and the...

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How many times is levy due?

Question A number of classic cars are held in a museum. The broker and insurer agree to insure the vehicles under a material damage policy whilst on display. The broker supplies the list of vehicles to the insurer each year and...

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Pre-settlement insurance

Question A client has agreed to purchase a house over which the seller holds home insurance. When the property goes unconditional the purchaser wishes to undertake some building/renovation work prior to settlement. Both...

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