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IBANZ Forum
QUESTION I would like a definitive answer on an interpretation of the following exclusion please: "Loss resulting from ingestion or entry of any foreign object into any agricultural implement or machine (eg. har...
FSCL Case Study
The construction company complained that their insurer had mishandled several...
A construction company used an insurance broker to arrange commercial insurance policies with their insurer. Between 2021 and 2022, the company made various claims against their insurance, including in June 2021 for damage to a crane, i...Feature
Sam Kerr | Managing Director - Share General, and Vice President - IBANZ
The future of the insurance industry depends on our ability to nurture the next generation of brokers. With the regulatory changes we’ve all been through over the past few years, we saw the introduction of the NZQA Level 5 Fi...
Feature
Can compulsory building reports save insurers millions?
A Christchurch-based building consultant says the property insurance model is “flawed” and building reports that are both compulsory and detailed would significantly reduce the costs and risks faced by insurers, consumers...IFSO Case Study
Stacey's* car insurance claim was declined because AdBlue had been put into its fuel tank. Stacey had car insurance. In 2024, her car broke down because AdBlue, a diesel exhaust fluid, had been put into its fuel tank. AdBlue...
Feature
Associate Finance Minister David Seymour has confirmed that a review of the f...
In an interview with CoverNote that occurred against a backdrop of a state of emergency in Christchurch, Wellington battling wind gusts of up to 150kmph and the MetService issuing a rare red weather warning, Minister Seymour outlined...Feature
The effect of a recent High Court judgment is that insurers can no longer rel...
John Knight and Scarlet Roberts from Chapman Tripp summarise the effects of Pearce v Toka Tu Ake Natural Hazards Commission [2024] NZHC 623 The High Court has clarified how to calculate time limitation periods for claims...News from Australia
The Insurance Brokers Code Compliance Committee has recommended improvements around transparency, clarity and breach reporting in its submission to the ongoing code review. The deadline for feedback on a consultation document has...
Feature
Time is ticking for the insurance industry to get ready for the implementatio...
The Contracts of Insurance Act is a new consumer protection law that repeals five Acts currently in force and increases the obligations on brokers and insurers. Speaking to a recent professional development seminar for...Feature
IAG has published new research in collaboration with Sapere Research Group that shows New Zealand’s $64 billion spend on natural hazards is heavily skewed to recovery over resilience. This research has been...
