Insurance

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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Hard discussions in a hard market

When insurance premiums rise, brokers need to have some frank conversations w...

Insurers in New Zealand, the Pacific region, and across the rest of the globe have increased premium rates in the past year due to a perfect storm of Covid-19, reduced investment returns, and natural catastrophe events. As rates rise an...

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Why are insurance costs rising?

Premiums are rising across most parts of New Zealand, and a multitude of fact...

As a small island nation prone to natural disasters, New Zealand is a difficult place for insurance underwriters. Over the past year, insurance premiums have begun to rise across the country following a series of natural catastrophe eve...

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New regime looms on March 15

By Sadie Beckman

Following a Covid-related delay, the new financial advisers’ regime is finally here. Brokers are confident the changes will be good for the industry After a nine-month delay due to COVID-19, the financial advice industry...

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D&O Insurance: Increasingly costly and uncertain

by Andrew Horne

Many companies and their directors, particularly dual-listed companies whose shares are quoted on both the NZX and ASX, have been astonished at the difficulty and cost of renewing their Directors and Officers (D&O) insurance in the...

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Delta signs international deal

New Zealand-headquartered insurance business Delta Insurance Group has signed an agreement with London-based specialty Lloyd’s-of-London reinsurance brokers Prospect Insurance Brokers to market and...

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Market for D&O insurance hardest in living memory

Directors in New Zealand and Australia are facing the most volatile and restrictive liability insurance market in living memory, according to a report released by the Institute of Directors (IoD) with Marsh and MinterEllisonRuddWatts....

Ask an Expert

Backtracking on settlement

Question... We have a claim ongoing at the moment where an insurer has backtracked on their settlement offer and refusing to honour what they originally offered. A client's TV was damaged and a claim was lodged and...

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,...

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Small brokers bullish about the future

Mega-mergers have dominated the insurance broking industry in recent years, b...

In the middle of October, global insurance broking giants Aon and Willis Towers Watson formally sought New Zealand approval for their US$30 billion merger, a deal that will reshape the international insurance advisory industry. ...

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Brokerslink launches dedicated international pl...

Global broking business Brokerslink has launched its dedicated international insurance programme management platform to drive the continued growth and digitalisation of its international portfolio across its broker network. ...

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Landmark UK business interruption case

by Andrew Horne and Nick Frith

In our previous edition, we discussed the various jurisdictions in which insurers’ approaches to business interruption cover following Covid-19 were being scrutinised. In the UK, the Financial Conduct Authority (FCA)...

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What you can expect in insurance in 2021

By Craig Furness Managing director of Gallagher Bassett in New Zealand.

A crisis like Covid-19 affects all business sectors. For insurance, the demand to deliver tailored solutions across multiple service lines on a local, national and global scale has certainly increased. The cataclysmic shifts of...

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Northland storm costs insurers $37m

Preliminary figures released by the Insurance Council of New Zealand reaffirm the extent of damage the July Northland floods left behind. There has been $37 million paid to date by insurers to support their customers' recovery....

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Advisers told to take care with vulnerable clients

Insurance advisers are being reminded to take care in the way they deal with clients who could be deemed vulnerable. The Financial Markets Authority has indicated that it expects the number of vulnerable people in New Zealand to...

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