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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...
FSCL Case Study
Peter* owned a franchise business, which had a number of insurance policies (material damage, public liability and commercial vehicle cover) arranged by a broker. In mid-2021, Peter was looking to change insurers because he wanted to r...
IFSO Case Study
Ani* made a claim on her mechanical breakdown policy when her car’s transmission failed. However, her claim was declined because she had breached the service requirement condition in her policy. This condition required Ani to serv...
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Insurance & Financial Services Ombudsman Karen Stevens said proposed changes to insurance contract law would make contracts “fairer and easier to understand” for consumers. Stevens described the Contracts of...
Insurance
NZI celebrated its 165th birthday, marking its status as one of New Zealand’s oldest brands. Established in 1859 - 39 years before the first car arrived in NZ - the company began life underwriting policies from a local...
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New Zealanders who own properties at risk of floods or earthquakes may be unable to afford insurance coverage, the Reserve Bank warned. Rising premiums may make home insurance "increasingly unaffordable" for households,...
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The government has introduced its Contracts of Insurance Bill, with the proposed law passing its first reading on 2 May. Under the bill, insurers would bear the greater burden of disclosure obligations. Opposition parties have...
Humans of NZI
Returning ‘home’ to where it all began with a fresh perspective and new-found energy has been a dream come true for NZI’s new Auckland and northern regional manager, EK Nielsen. EK is a self-proclaimed...
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The Marsh McLennan Global Risks Report 2024 captures insights from nearly 1,500 business leaders and experts worldwide, providing a short-, medium- and longer-term perspective on unfolding risk to help organisations make informed,...
SPOTLIGHT ON
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By Andrew Horne, partner, Nick Frith, partner, Lloyd Kavanagh, partner & Hann...
The team at MinterEllisonRuddWatts share their views on the Contracts of Insurance Bill, and how it will reshape the market. The Contracts of Insurance Bill, now a government Bill (Bill), has had its first reading and has...
