FSCL Case Study
In 2021 Hailey*, a school principal, arranged insurance to cover the cost of any damage and repairs to her school’s devices and equipment. On 5 December 2022 at about 7pm, the insurer sent Hailey an email saying that the insurance...
Insurance
AMI Insurance has seen a nearly 40% increase in house fires between summer and winter 2023, following a 20% increase the year before. The insurer said lower temperatures caused house fire risks to increase. “With the win...
Feature
Data from the Treasury revealed that a quarter of homes in high-risk flood zones are paying hundreds or thousands of dollars in additional premiums. In just 18 months, insurance premiums across New Zealand have risen by almost 30%,...
IBANZ Forum
QUESTION: Insurer has declined a claim on the pool due to the hydrostatic pressure. Details of events: 1. Dec 21: Pool is emptied and checked by pool specialist for painting. Hydro...
IBANZ Forum
QUESTION: The claim involves a customer's benchtop. The customer wishes to claim against the Insured for a new benchtop. The Insured installed the benchtop two years ago at their customer's house. The Insured advised...
Feature
The Insurance Brokers Association of New Zealand urged home buyers to think with their heads rather than their hearts when committing to a real estate purchase. New actuarial data supplied to Treasury shows house insurance premiums...
Feature
New research from insurers AMI, State and NZI revealed that 86% of people would now consider climate risk when choosing a home, compared to 55% just two years ago. The research found that house hunters rank weather and natural...
IBANZ Forum
QUESTION Hi team, In the past, we have had claims declined because the allegation against our client didn't include actual property damage (even though there may have been some). This time, a claim has been declined...
A Year in Review
QUESTION Hi Team, I have had a client who is renting a property. A pot was dropped on the ceramic stove top leading to a chip. This has now grown into a crack and the landlord would like the top replaced. The...
IBANZ Forum
QUESTION Hi, The insuring clause of a policy covers any unforeseen and sudden physical loss or damage caused by; (f) subsidence, landslip, rockslide or any other movement. The same policy excludes - loss or...
