The insurance professionals online magazine
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 3...
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 ...
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 ...
Feature
The summer’s extreme weather will have significant ramifications for the in...
When asked about the magnitude 6.3 earthquake that rocked the central North Island on 15 February this year, the Prime Minister, Chris Hipkins, said that he was looking out the window for a plague of locusts. Hipkins’...Feature
The New Zealand government has approved an additional $25 million in relief funds for businesses impacted by Cyclone Gabrielle. In April, the New Zealand government approved an additional $50 million in short-term support for...
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...
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
IAG New Zealand has appointed Catherine Drayton as a non-executive board member. Drayton is chair of Christchurch International Airport, Guardians of NZ Superannuation, Mint Innovation, and Connexa, and a board member for Genesis...
Feature
The Auckland floods and Cyclone Gabrielle caused between $9 billion and $14.5 billion of asset damage, according to Treasury estimates. According to official forecasts, residential property damage will range between $2 billion and...
IBANZ Forum
Question: Just loading a new claim with an insurer for where a pet dog has damaged the client's glasses by chewing them. The policy notes the following regarding pet damage: “Household pets: we won’t...
