Feature
Insurance & Financial Services Ombudsman Karen Stevens said proposed changes to insurance contract law would make contracts “fairer and easier to understand” for consumers. Stevens described the Contracts of Insuran...
Feature
The government has introduced its Contracts of Insurance Bill, with the proposed law passing its first reading on 2 May. Under the bill, insurers would bear the greater burden of disclosure obligations. Opposition parties have agre...
Feature
The coalition government has decided to keep Conduct of Financial Institution...
Commerce and Consumer Affairs Minister Andrew Bayly said financial institutions would need to continue to work towards a license under CoFI, regulation which aims to prevent banks, insurers and non-bank deposit takers from mistreating t...
Feature
By Cecily Brick, partner, Fee Langstone
Earlier this year, the Court of Appeal upheld a High Court decision finding the owners of the Christchurch Adventure Park liable for losses caused to neighbouring property owners whose homes were damaged by the spread of fire from the...Feature
National has signalled plans to scrap CoFI, but some in the industry believe ...
With the National Party-led coalition government is still in its infancy, insurance professionals are starting to look at the group’s pre-election promises and how they might affect the broking profession. National and ACT...Ask an Expert
Question: We have a client, a builder, who was joined to a legal case where it was ultimately found that the damage was due to incorrect engineering calculations that caused a property's foundations to slump. Our...
Opinion
Contract law is central to the world of commerce. Traders rely on contract law to keep parties to their promises. Contract law forms part of what is generally referred to as the rule of law. Without contract law, the world of commerce...
Feature
A UK case provides helpful guidance on insurance policy wording, writes Zoë B...
Brian Leighton (Garages) Ltd (BLG) operated a workshop and 24-hour petrol station in East Yorkshire. In June 2014, a sharp object pierced a section of pipe which connected an underground fuel tank to six of BLG’s forecourt...IFSO Case Study
A company held various liability, crime and consequential loss covers. One day it discovered an employee had stolen company property, including property owned by the company’s clients. As a result of the theft, the...
Opinion
The Financial Markets (Conduct of Institutions) Act 2022 became law on June 29. However, the practical impact of it on intermediaries could not be assessed at the time as key regulations under it had not been drafted. The...
