Feature
The effect of a recent High Court judgment is that insurers can no longer rel...
John Knight and Scarlet Roberts from Chapman Tripp summarise the effects of Pearce v Toka Tu Ake Natural Hazards Commission [2024] NZHC 623 The High Court has clarified how to calculate time limitation periods for claims und...Feature
Can compulsory building reports save insurers millions?
A Christchurch-based building consultant says the property insurance model is “flawed” and building reports that are both compulsory and detailed would significantly reduce the costs and risks faced by insurers, consumers an...Insurance Council News
One in five New Zealanders has switched insurance providers in the last two years, according to a new survey. Commissioned by the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ), the survey found 20% of re...
FSCL Case Study
The Body Corporate disagreed with the insurer’s decision to decline their claim
Spencer* is the representative of a Body Corporate that manages a large commercial complex. In 2023, an intense period of heavy rainfall and subsequent flooding caused significant water damage to the complex. Surface flooding damaged...IFSO Case Study
A company owned a rental property covered by a commercial business insurance policy. After a heavy rain event, the rental property was damaged when the slope behind it slipped. The repair costs for the damage came to $9,706,...
IBANZ Forum
QUESTION Hi - after recommending a client who is a retiring plumber continue with public liability for an annual term after retiring, I received this response from their solicitor. I'd appreciate your thoughts on their...
IBANZ Forum
QUESTION We have been experiencing a rapidly growing number of claims where assessors and loss adjustors are displaying a strong bias against the client in favour of the insurers. We all know they are supposed to...
IBANZ Forum
QUESTION: We are finding that frequently insurers are using the ICR when underwriting new house insurance risks. We have come across a number of instances when a client is purchasing a home and the underwriter requests information...
IBANZ Forum
QUESTION: We have a client who has caused damage to a client's ceiling and is looking to claim for this. Unfortunately the affected property has asbestos in the ceiling. The insurer is suggesting that there may not be cover due...
IBANZ Forum
QUESTION: My client's dwelling is occupied by them and has a small unit downstairs, which is used for occasional AirBnB. The unit is self-contained. The client's sum insured reflects the cost to rebuild the whole...
