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IBANZ: Calendar of events

All webinars: 10.30 - 11.30am unless otherwise stated. FEBRUARY 2025 February 4 th Topic:   Legislation Breaches Presenter:  Stephanie Newton  |  FSCL   February 11 th ...

IBANZ Forum

Small claims

QUESTION: My client has a dispute with a customer so raised a small claims tribunal action within the $30,000 limit. The customer has counter-claimed for $50,000 which, being outside small claims, I presume now becomes a civil ma...

IBANZ Forum

FENZ Levy on buildings - adjustment rate on inf...

QUESTION: When we get a new valuation for a building, it usually has the sum insured amount broken down: Reinstatement Cost Estimate and Inflationary Provision Demolition Cost. As a brokering practice, we use 50% adjustment on th...

IBANZ Forum

Purposively underinsuring

QUESTION: I'm dealing with a complex situation involving a commercial property owner. The owner recently obtained a valuation on their property, which has come back effectively doubling the previously insured value. Despite...

IBANZ Forum

Do brokers have an obligation to notify banks f...

QUESTION: Whose responsibility is it now to notify banks if there is a mortgage or finance on a policy that is cancelled due to non-payment?   Crossley Gates, Keegan Alexander Decades ago there used to be an...

FSCL Case Study

Business affected by a cyclone

Olivia* is the owner of a small home renovation business supplying both material and labour to homeowners (the business), in the Hawkes Bay area.  In February 2023 the area was severely impacted by Cyclone Gabrielle, causing...

FSCL Case Study

Process concerns over Cyclone Gabrielle claim

Patricia’s* small business was affected by Cyclone Gabrielle in February 2023. The premises flooded and the business was closed for several weeks. Patricia submitted a claim to her insurer to cover material damage and business...

IFSO Case Study

Insurance dispute about flood repairs

Mr and Mrs Chen* held insurance on their house. In January 2023, the Auckland region was affected by widespread flooding, and the house was damaged as a result. Mr and Mrs Chen made a claim to their insurer for the damage. ...

Feature

Understanding the unique risks in our rural sector

In years gone by, New Zealand was often jokingly referred to as the land of sheep, with around 10 of them for every person. While the number of sheep has dropped in the last few years to a ratio of five to one, we are still a nation...

Feature

Contracts of Insurance Bill receives royal assent

Dentons recently provided this update on the Contracts of Insurance Act 2024

On 15 November 2024, the Contracts of Insurance Bill received royal assent. The new legislation modernises and consolidates existing insurance laws. It is intended to promote the confident and informed participation of insurers,...

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