Feature
Financial Markets Authority (FMA) Report
In early 2023, New Zealand was hit by two severe weather events, with the Auckland Anniversary Weekend floods and Cyclone Gabrielle occurring within a period of 16 days. The impact of these events on both people and p...Feature
Auckland Council’s online flood viewer is seeing sustained high use more than two years after the 2023 anniversary weekend floods and Cyclone Gabrielle, events that caused 15 deaths, forced thousands from their ...
Feature
A land-use modelling system commissioned by the Natural Hazards Commission Toka Tū Ake (NHC) has been developed to help councils and planners evaluate how zoning rules and infrastructure investment decisions could inf...
Feature
The Natural Hazards Commission (NHC) is calling on homeowners – and the brokers who advise them – to understand the limits of New Zealand’s natural hazard land cover before disaster strikes. A...
IBANZ Forum
QUESTION We have a discussion going on about just completed spec homes, that are unoccupied. Do these qualify as a dwelling, and therefore have NHCover available to them? I can't find a specific...
IBANZ Forum
Material Damage/BI/Contract Work
QUESTION I was of the understanding that under Section 269 of the Property Law Act 2007 that tenants could NOT be held liable for the Landlord's commercial insurance policy excess. I have recently seen lease...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...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...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...
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...
