Financial Law

PIQ College

Time is ticking

For those of you that attended the recent Financial Services Council Get in Shape Advice Summits, I recall Sharon Corbett from MBIE commenting on the fact that the first meeting she had to start the review of the Financial Adviser Act w...

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Covered by the EQC?

QUESTION The local hospice has a stand-alone dwelling on the grounds of the hospice which is used by relatives of patients for short-term stays. Multiple parties use the dwelling over the course of the year and for some periods ...

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Solar struggle

QUESTION The claimant was engaged by a TP to install a solar array on the roof of their home.  The insured is a solar installation company. The company made an inspection of the internal roof void but only identified...

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To bailee or not to bailee?

QUESTION My client runs a small self-storage facility, mainly made up of shipping containers. The terms and conditions of storage that he requires all clients to sign state: "The service provided to you, the storer,...

IFSO Case Study

Storm claim upheld

Mr and Mrs A had cover for their house with the insurer. In January 2018, a significant storm event caused damage to the house. A couple of weeks later, a toilet at the house overflowed, associated with the cleaning of the septic tank...

FSCL Case Study

Cancer not a pre-existing condition

A woman had suffered from indigestion for years and had, from time to time, taken prescription medication to relieve the symptoms. In November 2019, she went to her doctor because she was experiencing heartburn and pain on her...

FSCL Case Study

Insurer wins out on handbag dispute

A couple were travelling by train through Europe. In a crowded train station, they needed to transfer trains and the woman accidentally left her handbag on the luggage rack. They did not realise she had lost her handbag until they...

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...

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Threshold for an interruption claim

Question. .. A motor vehicle dealership holds a BI policy and insures their full gross profit. The operative clause reads: ".....the insurer agrees to indemnify the insured for loss resulting from interruption to or...

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Dog on driveway

Question... Our insured was contracted to perform some plumbing work on a property. An employee of the insured elected to take their dog to work. The dog escaped and ran over a neighbour's property that was under...

IFSO Case Study

Stolen watch disappointment

A couple arranged for contents insurance through their bank. Two years later, a bank employee telephoned the insurer on behalf of the woman, inquiring about specifying a lady’s watch. During this telephone discussion,...

IFSO Case Study

Caught out by carpet excess

The insured held insurance on her house.  In April 2019, she made a claim to the insurer, because her dog had vomited and had diarrhoea, damaging the carpet at the house over the course of a day.  The insurer...

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...

FSCL Case Study

Value for money?

The insured bought his first car from a motor vehicle dealer for $8500. The dealer, acting as a agent for the lender, arranged the loan and included both mechanical breakdown insurance and guaranteed asset protection insurance without...

FSCL Case Study

No cover in place

A woman bought a new house in 2018. She asked her insurance broker to arrange home and contents insurance for the property. When she filled out the application form, she omitted a few details about locks and the alarm system...

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