IBANZ Forum
Question: We are seeing more and more construction contracts with high standard excesses [$100,000 plus] Who generally pays this excess or what mechanism is used to determine who pays it? This is particularly relevant...
IBANZ Forum
Question: We have a claim accepted for defective workmanship. In order for the workmanship to be rectified the homeowner needs to vacate the property and go into temporary accommodation. The combined cost of rectifying the...
IBANZ Forum
Question: I have had a motor vehicle claim declined due to the driver breaching the reasonable care condition of the policy. The policy states - 2.4 Reasonable care The Insured must take all reasonable steps t...
IFSO Case Study
Mr P held third party, fire and theft cover on his motorhome. In 2021, Mr P died and his son, Mr G, received his motorhome. Mr G changed the registration of the motorhome into his name. He also listed the motorhome on TradeMe, and...
FSCL Case Study
In December 2020, Mike* asked his insurance adviser to arrange cover for a new car (“car A”) under his business insurance policy. The adviser replied asking Mike to confirm some details. Mike did not reply to the email, but...
Feature
The Toyota Aqua has replaced the Mazda Demio as the most frequently stolen vehicle in the country, according to AMI, as car theft claims skyrocketed in 2022. Despite only comprising 1.47% of the nation's fleet, the Aqua, also...
Feature
The industry needs to do more to attract young people, writes Nick Cressey
The broking sector is in need of new blood right now. The old guard is quickly retiring, which leaves the door open to a new generation with the desire to succeed. In the past, the industry has faced challenges attracting young...Opinion
Contract law is central to the world of commerce. Traders rely on contract law to keep parties to their promises. Contract law forms part of what is generally referred to as the rule of law. Without contract law, the world of commerce...
Feature
A UK case provides helpful guidance on insurance policy wording, writes Zoë B...
Brian Leighton (Garages) Ltd (BLG) operated a workshop and 24-hour petrol station in East Yorkshire. In June 2014, a sharp object pierced a section of pipe which connected an underground fuel tank to six of BLG’s forecourt...Feature
Combined claims for the Auckland Anniversary Weekend flooding and Cyclone Gabrielle stood at 96,586 claims worth $2.47 billion as of early April, according to the Insurance Council of New Zealand. By April, insurers paid out over...
