Covid-19

IFSO Case Study

Covid travel dispute settled

In January 2020, Mr B arranged cover for a trip to Bali, between 5 April 2020 and 17 April 2020.  In February 2020, Mr B cancelled the trip, due to the outbreak of Covid-19.  Mr B made a claim to the insurer for reim...

FSCL Case Study

Bahamas blunder

In November 2019, a woman booked a trip to the Bahamas. She was scheduled to fly from New Zealand to Houston on 12 April 2020, and then onwards to Nassau, the capital of the Bahamas. The following day, she would fly from Nassau to Freep...

Feature

Are businesses prepared for a claims surge event?

By Jon Winsbury and Craig Furness, Gallagher Bassett

The topic of climate change is rapidly rising in prominence on the global public agenda. And, as the world experiences endless parades of catastrophes and significant events on top of the pandemic, claims surge events have become i...

Opinion

The implications of England’s business interrup...

As readers now know, the test case brought by the Financial Conduct Authority in the English High Court challenging the declinature of many Covid-19 claims under Business Interruption Policies in England was largely successful. Many of...

SPOTLIGHT ON

Feature

Hard discussions in a hard market

When insurance premiums rise, brokers need to have some frank conversations w...

Insurers in New Zealand, the Pacific region, and across the rest of the globe have increased premium rates in the past year due to a perfect storm of Covid-19, reduced investment returns, and natural catastrophe events. As rates rise...

SPOTLIGHT ON

Feature

Why are insurance costs rising?

Premiums are rising across most parts of New Zealand, and a multitude of fact...

As a small island nation prone to natural disasters, New Zealand is a difficult place for insurance underwriters. Over the past year, insurance premiums have begun to rise across the country following a series of natural catastrophe...

SPOTLIGHT ON

Feature

New regime looms on March 15

By Sadie Beckman

Following a Covid-related delay, the new financial advisers’ regime is finally here. Brokers are confident the changes will be good for the industry After a nine-month delay due to COVID-19, the financial advice industry...

Feature

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...

Feature

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....

FSCL Case Study

Pandemic problems

In March 2020,  a couple were overseas in the United Kingdom when they heard the call from the New Zealand government to return home due to the Covid-19 pandemic. Although they were intending to travel home on April 6, 2020, they...

Feature

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...

Feature

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...

Feature

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...

Feature

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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