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Suncorp New Zealand recorded strong profits in the six months to December and continues to support customers facing Covid-related financial hardship. The insurance group announced a net profit after tax of NZ$129 million for the si...
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Some of the risk and insurance sector’s leading voices met online to discuss the rising threat of climate risks and how to tackle the issue in New Zealand. Research firm CoreLogic hosted a virtual event, ‘Moving ahead o...
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The Earthquake Commission (EQC) and private insurers say a new partnership will provide an improved, more collaborative approach to supporting New Zealanders through natural disasters in the future. Under the new partnership, from ...
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Suncorp New Zealand is the first New Zealand insurer to adopt Meridian Energy’s 100% Certified Renewable Energy product. As of July 1, nearly 100% of Suncorp New Zealand’s electricity will be...
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Question... We appear to have an unusual situation with travel policies and their response to the coronavirus. In general terms, the current advice is as follows. For any travellers proceeding with travel plans, there is...
FSCL Case Study
FSCL expects more complaints about insurance brokers as the pandemic effects ...
We are starting to see a few complaints about insurance brokers arising out of Covid-19 disruption and expect we may see more as time goes on. We anticipate that as clients, in particular small businesses, discover that their...Opinion
Insurers have opportunity to show support for New Zealand in Covid-19 recover...
Navigating the turbulence of a global economic crisis requires insurers to maintain an even ballast between the cargo of customer interests and buoyant solvency. In New Zealand, rated one of the riskiest for its size, the...Opinion
Recent English case provides lessons for NZ By Crossley Gates
A Parliamentary Bill is due later this year to start the process of reforming New Zealand’s duty of disclosure law, as well as many other insurance law reforms. However, given the Covid-19 pandemic, we expect this may...Feature
Fewer claims, more hardship – insurance companies navigating pandemic are in ...
Insurers are used to crises: earthquakes, floods, fires and accidents. But this year’s pandemic has thrown a new set of challenges at New Zealand’s insurance industry. Insurers have had to grapple with the...Feature
By Angela Cuming
Insurance brokers have felt the impact of Covid-19 swiftly and keenly. From dealing with slow home office internet speeds and the demands of junior “co-workers” home from school to managing clients who are suffering...Feature
By Nick Frith, Andrew Horne, Minter Ellison Rudd Watts
The need to manage risks in an ever-changing world is not new. The insurance market has seen sea changes in approach over the last few decades, driven by the emergence of new risks and lessons from significant events. Significant...Feature
Insurance customers received $19.7 million to meet losses from the February 2020 floods that led to a state of emergency being declared in Southland, Fiordland and Clutha. The preliminary figures show the severity of the event...
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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...
Feature
A sea change in pricing property insurance by Andrew Horne and Olivia de Pon...
New Zealand’s largest property insurer group recently announced a move towards more risk-based underwriting for property and contents insurance in areas considered prone to natural disasters. These changes will result in premium...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...
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