The insurance professionals online magazine
Feature
by Andrew Horne and Nick Frith, of Minter Ellison Rudd Watts
A recent case indicates that insurance brokers and insurers may owe a continuing duty to inform customers if circumstances change during the policy term. This will be of interest to brokers and insurers who may have assumed th...IFSO Case Study
An insured held insurance on his contents and vehicle. In July 2018, a sequence of events started, which included the taking of the vehicle, and a number of burglaries of the contents. The client reported the los...
IBANZ Forum
Question... Our client had a car that was insured in his name stolen. The claim was recently settled by payment to his nominated account. His wife has now asked for details of the settlement as she says she is entit...
Live News
PSC Connect continues to show impressive growth since its inception in 2012 with 43 Member Brokers and $50m GWP throughout New Zealand. The PSC Group also continues its expansion globally with two recent purchases in the UK and...
Live News
A Supreme Court decision in the IAG v Xu case has affirmed long-held legal principles regarding assignment law, the Insurance Council says. It involved a house sold on an “as is” basis with an assignment of the original...
IFSO Case Study
Last year, the IFSO Scheme received over 1000 complaint enquiries about vehicle insurance. By comparison, we receive very few complaints about financial advisers. However, your guidance can significantly improve your...
IBANZ Forum
Question... Our client's general liability policy contains the following exclusion: "Building defects alleging, arising directly or indirectly out of, or in respect of: 2.1 the failure of any building or structure to...
IBANZ Forum
Question... A client owns a property in Christchurch. The building suffered some minor damage in Christchurch earthquakes and claim was cash settled . The damage was assessed as plaster and painting only. The tenant now...
IFSO Case Study
A client held vehicle insurance with the insurer for his tractor. He made a claim, because a clutch circlip dislodged inside the tractor and became caught in the tractor’s transmission, requiring nearly $18,000 of repairs....
Live News
Four changes to the Earthquake Commission (EQC) Act have come into effect this year. They are part of an overall push to put in place the lessons learned from recent event responses including the Canterbury earthquakes. The changes...
