Natural Disaster

Feature

Navigating crises with confidence

Key elements leaders must consider in crisis management

Gallagher Bassett New Zealand reflected on the significance of crisis readiness on the first anniversary of the devastating Cyclone Gabrielle. Chief executive Craig Furness said building knowledge within organisations was a key les...

FSCL Case Study

Underinsured when a cyclone struck

In 2012 Henry* bought his first house and asked an insurance broker to arrange house insurance. The broker corresponded with Henry using his work email address, but the email address on the insurance application form was different. Th...

Feature

Suncorp NZ profit grows as group warns of reins...

Suncorp NZ reported a small increase in half-year profit, as premium income rose by 20%, but the group warned of likely increases to reinsurance costs. The NZ division of the Australian giant recorded a profit of $94 million for th...

Feature

IAG adds A$250 million to 2024 catastrophe insu...

Insurance Australia Group, the owner of State, AMI and NZI, included an extra A$250 million of drop-down cover for a New Zealand-specific second event as it announced its 2024 catastrophe reinsurance programme. The Australia-based...

Insurance

Change in approach needed for natural disaster ...

IAG has called for a change in approach to natural disaster management following last year’s devastating floods. The insurance group reflected on the one year anniversary of the North Island floods and Cyclone Gabrielle,...

SPOTLIGHT ON

Feature

Navigating 2024 - Impacts and outlook for insur...

Brokers face one of the most challenging insurance markets in years, writes H...

In the early months of 2024, the New Zealand insurance market faces a series of structural shifts that will ask hard questions of all industry professionals. Consumers of insurance are looking to professionals to provide answers as...

IFSO Case Study

Flood-damaged car not fully covered

When Rawiri’s* car was damaged in the Auckland floods, he thought he would be fully covered, having arranged car insurance with an agreed value of $19,000 just a year earlier. However, when Rawiri made his insurance claim,...

Feature

Vero upskills staff following EQC claims surge

Vero Insurance New Zealand is providing additional training for employees to become assessors for EQCover claims under the EQC Act after a surge in claims.   Nearly ten months after the Auckland floods and Cyclone...

Feature

Court of Appeal decision focus: Leisure Investm...

By Cecily Brick, partner, Fee Langstone

Earlier this year, the Court of Appeal upheld a High Court decision finding the owners of the Christchurch Adventure Park liable for losses caused to neighbouring property owners whose homes were damaged by the spread of fire from the...

IFSO Case Study

Defective earthquake repairs cause ongoing issues

Amy's* house was damaged in the Christchurch earthquakes. She made a claim under her house insurance and her insurer arranged the repairs. Several years later, Amy found the repairs to be defective, but her insurer declined to...

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