Insurance

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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 distribute Delta&...

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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. A...

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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 acc...

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,...

SPOTLIGHT ON

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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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Cyber attacks hit close to home

NZX hack a reminder that any business can fall victim. By Angela Cuming

2020 has exposed our vulnerabilities in unexpected and worrying ways. The ongoing Covid-19 crisis serves as a grim reminder that global pandemics are a real and recurring threat, while the recent cyberattacks on the New Zealand...

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Allianz ponders pandemic cover

Allianz Partners New Zealand is developing selected cover for epidemic and pandemic diseases, including Covid-19, as domestic travel plans increase and travellers keep an eye on future border openings for international travel....

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Customers no longer contact EQC for disaster cl...

The Earthquake Commission (EQC) and private insurers say a new partnership will provide an improved, more collaborative approach to supporting New Zealanders through natural disasters in the future. Under the new partnership, from...

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New Natural Disaster Response Model to improve ...

The Earthquake Commission (EQC) and private insurers have today announced a new partnership that will provide an improved, more collaborative approach to supporting New Zealanders through natural disasters in the future. Under the...

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Insured twice

Question: We have a MVI policy that has just entered its third year, and the customer has paid in full on three invoices. My customer has realised they are insured elsewhere also since inception and requesting to stay with the...

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