IFSO Case Study
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
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 an...Feature
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 &ldqu...
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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...
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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...
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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
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
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...
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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...
Feature
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 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...
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