The insurance professionals online magazine
Feature
Industry urges awareness after uninsured families lose possessions
A recent residential fire in Remuera has prompted the Insurance Council of New Zealand (ICNZ) to highlight a significant gap in insurance coverage among migrant households. The incident, which occurred in the early morning hours of...IBANZ Forum
Liability/Cyber/Product Recall/Crime/Fidelity
QUESTION Could I please have some clarity around an issue that I am dealing with? I have a plumber/gasfitter who offers design work as part of their services. The client mainly works on new build contracts and works alon...FSCL Case Study
When Cyclone Gabrielle hit on 13 and 14 February 2023, Willow’s* business had 19 heavy machines located at skid sites in the upper North Island. The machinery had originally been taken to the skid sites using a transporter ar...
IBANZ Forum
NHI/FENZ
QUESTION Hi there, We are in discussion about whether we charge FEL on landlords' contents under a residential body corporate, when it is automatically included as a benefit in the policy wording. Under the policy wording,...Feature
A view from the Beehive
Many in the insurance industry are currently involved in preparing to comply with upcoming changes to the Fire and Emergency NZ (FENZ) levy, whether that be staff training about the changes or making sure internal systems will be...Advertorial
INSURANCE & FINANCIAL SERVICES OMBUDSMAN SCHEME Complaints are inevitable when dealing with insurance - but how you respond can make or break customer trust. This year, the Insurance & Financial Services...
FSCL Case Study
Jiya* owned commercial office space that she converted into several office spaces for renting. The insurance for the units was managed by the Body Corporate. In February 2023, one of the office spaces was damaged during the...
Feature
Insurers report stabilising rates and evolving risk management trends
The New Zealand insurance sector is undergoing a period of transition, with recent analysis from Rothbury Insurance Brokers indicating that the market is moving away from the pronounced premium hikes seen in previous years. This...IFSO Case Study
Quincy* said the agreed value had not been properly notified to him when his policy was renewed. Quincy held insurance on his vehicle. In December 2024, following an accident, Quincy made a claim to the insurer for...
Feature
Insurers adapt to increased claims and market uncertainty
The Reserve Bank of New Zealand (RBNZ) has highlighted that financial stability risks remain elevated, citing a combination of global and domestic factors that continue to influence the country’s financial system. Governor...
