Business

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Lloyd’s outlines pathway to clarity

Specialist insurance and reinsurance market Lloyd’s has published a new report,  Building simpler insurance products to better protect customers , which sets out a number of ways the global insurance industry could remov...

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Delta signs international deal

New Zealand-headquartered insurance business Delta Insurance Group has signed an agreement with London-based specialty Lloyd’s-of-London reinsurance brokers Prospect Insurance Brokers to market and distribute Delta&...

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Market for D&O insurance hardest in living memory

Directors in New Zealand and Australia are facing the most volatile and restrictive liability insurance market in living memory, according to a report released by the Institute of Directors (IoD) with Marsh and MinterEllisonRuddWatts. A...

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Threshold for an interruption claim

Question. .. A motor vehicle dealership holds a BI policy and insures their full gross profit. The operative clause reads: ".....the insurer agrees to indemnify the insured for loss resulting from interruption to or...

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Dog on driveway

Question... Our insured was contracted to perform some plumbing work on a property. An employee of the insured elected to take their dog to work. The dog escaped and ran over a neighbour's property that was under...

SPOTLIGHT ON

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Small brokers bullish about the future

Mega-mergers have dominated the insurance broking industry in recent years, b...

In the middle of October, global insurance broking giants Aon and Willis Towers Watson formally sought New Zealand approval for their US$30 billion merger, a deal that will reshape the international insurance advisory industry. ...

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Insurer remedies for fraudulent claims

by Andrew Horne and Nick Frith

In its recent decision in  Taylor v Asteron Life Ltd, the Court of Appeal discusses the fraudulent claims rule – the first time that this rule has been considered in any detail by an appellate court in New Zealand. The...

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Brokerslink launches dedicated international pl...

Global broking business Brokerslink has launched its dedicated international insurance programme management platform to drive the continued growth and digitalisation of its international portfolio across its broker network. ...

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Landmark UK business interruption case

by Andrew Horne and Nick Frith

In our previous edition, we discussed the various jurisdictions in which insurers’ approaches to business interruption cover following Covid-19 were being scrutinised. In the UK, the Financial Conduct Authority (FCA)...

Opinion

Financial Conduct Authority takes action on beh...

Unlike New Zealand, many business interruption policies issued in England extended cover to interruption in consequence of a notifiable infectious disease. Many of the underwriters of those policies declined their Covid-19 related...

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Suncorp assessed remote-working future

A survey of employees at Suncorp New Zealand, one of the country’s largest insurance companies, has revealed that community and connection (79%) and collaboration and problem solving (66%) are the main drivers for employees...

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What you can expect in insurance in 2021

By Craig Furness Managing director of Gallagher Bassett in New Zealand.

A crisis like Covid-19 affects all business sectors. For insurance, the demand to deliver tailored solutions across multiple service lines on a local, national and global scale has certainly increased. The cataclysmic shifts of...

SPOTLIGHT ON

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Cyber attacks and the insurance response

by Andrew Horne, Minter Ellison Rudd Watts

New Zealand’s stock exchange, NZX, suffered cyber-attacks on six consecutive working days earlier this year.  The attacks left it unable to facilitate trading in shares, in its debt market, the Fonterra shareholders’...

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Advisers told to take care with vulnerable clients

Insurance advisers are being reminded to take care in the way they deal with clients who could be deemed vulnerable. The Financial Markets Authority has indicated that it expects the number of vulnerable people in New Zealand to...

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Vero research reveals small businesses are conf...

Natural disasters rank well down the list of concerns highlighted by Kiwi SMEs, according to Vero’s most recent SME Insurance Index. The index, which surveyed 900 small and medium-sized enterprise owners (SMEs) found that...

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