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Specialist insurance and reinsurance market Lloyd’s has published a new report, Building simpler insurance products to better protect customers , which sets out a number of ways the global insurance industry could remov...
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New Zealand-headquartered insurance business Delta Insurance Group has signed an agreement with London-based specialty Lloyd’s-of-London reinsurance brokers Prospect Insurance Brokers to market and distribute Delta&...
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Directors in New Zealand and Australia are facing the most volatile and restrictive liability insurance market in living memory, according to a report released by the Institute of Directors (IoD) with Marsh and MinterEllisonRuddWatts. A...
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Question. .. A motor vehicle dealership holds a BI policy and insures their full gross profit. The operative clause reads: ".....the insurer agrees to indemnify the insured for loss resulting from interruption to or...
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Question... Our insured was contracted to perform some plumbing work on a property. An employee of the insured elected to take their dog to work. The dog escaped and ran over a neighbour's property that was under...
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Question... We have had several instances recently where insurers have advised that a claim has been accepted, and we have notified our client, and then a little way down the track, they have reversed that decision, having...
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Question... We have a claim ongoing at the moment where an insurer has backtracked on their settlement offer and refusing to honour what they originally offered. A client's TV was damaged and a claim was lodged and...
IFSO Case Study
A couple arranged for contents insurance through their bank. Two years later, a bank employee telephoned the insurer on behalf of the woman, inquiring about specifying a lady’s watch. During this telephone discussion,...
IFSO Case Study
The insured held insurance on her house. In April 2019, she made a claim to the insurer, because her dog had vomited and had diarrhoea, damaging the carpet at the house over the course of a day. The insurer...
FSCL Case Study
In March 2020, a couple were overseas in the United Kingdom when they heard the call from the New Zealand government to return home due to the Covid-19 pandemic. Although they were intending to travel home on April 6, 2020, they...
FSCL Case Study
The insured bought his first car from a motor vehicle dealer for $8500. The dealer, acting as a agent for the lender, arranged the loan and included both mechanical breakdown insurance and guaranteed asset protection insurance without...
FSCL Case Study
A woman bought a new house in 2018. She asked her insurance broker to arrange home and contents insurance for the property. When she filled out the application form, she omitted a few details about locks and the alarm system...
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by Andrew Horne and Nick Frith
In its recent decision in Taylor v Asteron Life Ltd, the Court of Appeal discusses the fraudulent claims rule – the first time that this rule has been considered in any detail by an appellate court in New Zealand. The...Feature
Global broking business Brokerslink has launched its dedicated international insurance programme management platform to drive the continued growth and digitalisation of its international portfolio across its broker network. ...
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by Andrew Horne and Nick Frith
In our previous edition, we discussed the various jurisdictions in which insurers’ approaches to business interruption cover following Covid-19 were being scrutinised. In the UK, the Financial Conduct Authority (FCA)...
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