Environmental

Feature

New Auckland HQ for AIG New Zealand

AIG New Zealand is set to move Auckland’s Commercial Bay Precinct into a greener, more sustainable office. AIG is finalising its relocation to Jarden House from Shortland Street. The insurance giant said the move optimis...

Feature

NZ catastrophe losses way above long-term avera...

Aon’s latest Weather, Climate and Catastrophe Report revealed 10 catastrophe events in New Zealand last year caused losses of $322.5 million. The figure was a significant increase on the long term average of roughly $70 milli...

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EQC cap causes concern

The insurance sector is set to experience a shake up after the government ann...

News of an increase to the EQC building cap has been met with concern by some within the insurance sector, with warnings it could undermine an already competitive industry and unfairly penalise those who live in low seismic-risk parts o...

IFSO Case Study

Methamphetamine contamination confusion

Through a financial adviser, a couple held insurance on a rental property. In June 2020, the couple discovered that their rental property had been damaged by methamphetamine contamination. They made a claim through their financial...

Feature

More extreme weather likely in summer months ahead

Garry Taylor, executive general manager for NZI, on New Zealand’s weather ana...

According to research published in the journa lof Nature Climate Change, at least 85 percent of the world’s population has felt the effects of our changing climate.  As countries around the world report...

Feature

Climate disclosure law introduced

New Zealand has introduced a law forcing financial institutions, including insurers, to disclose their climate-related risks. Climate change minister and Green MP James Shaw said the disclosure regime would make New Zealand a...

Ask an Expert

What is ‘gradual change’?

QUESTION: A client had a bird nest under some roof tiles which caused water to get into a lounge ceiling. The property is the insured's weekend home and the water damage to the ceiling was not found until the following...

Ask an Expert

Tree trouble

QUESTION: A tree in a car park owned by a commercial landlord breaks in a weather event and damages a trailer parked in the car park and owned by the tenant to the building. The landlord wishes to make a claim for the...

Feature

ICNZ criticises FENZ funding review

The Insurance Council of New Zealand has hit out at the government’s decision to continue funding Fire and Emergency New Zealand through a levy model.  Following a review, policymakers concluded insurance premiums should...

Feature

Managing bushfires in New Zealand

By Mark Taylor Chartered Loss Adjuster, Major & Complex Loss (MCL) Global Pr...

Bushfires are a foreign disaster for New Zealand. Although there have been wildfires in the past, none have been as intense as the recent cases in Australia. The climate in New Zealand is different, and the land isn’t expansive...

Feature

Profits grow at Suncorp

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...

Feature

Virtual event tackles climate risks

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...

Feature

Customers no longer contact EQC for disaster cl...

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...

Feature

Suncorp first to adopt renewable energy project

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...

Ask an Expert

Coronavirus and travel

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...

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