Ask an Expert
Question. .. A motor vehicle dealership holds a BI policy and insures their full gross profit. The operative clause reads: ".....the insurer agrees to indemnify the insured for loss resulting from interruption to or in...
FSCL Case Study
The insured bought his first car from a motor vehicle dealer for $8500. The dealer, acting as a agent for the lender, arranged the loan and included both mechanical breakdown insurance and guaranteed asset protection insurance without d...
Feature
The Insurance Council of New Zealand and its members have recently been made aware of a car part supplier allegedly misrepresenting car parts as genuine to New Zealand repairers. “We understand that since late last year...
Ask an Expert
Question: We recently had a claim declined under service and repair due to our clients' terms and conditions. The insurer has paid previous service and repair claims for this client and they have said the policy would...
Ask an Expert
Question: An insured person was driving vehicle to a mountain in early morning. An oncoming runner caused them to pull out slightly on the road and they hit black ice ± the vehicle fishtailed and went through a fence on...
Ask an Expert
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...
IFSO Case Study
A man held insurance on his vehicle. In November 2018, he discovered that the vehicle was “coated in a lime-type, concrete residue”. The vehicle had been parked in the carpark in his apartment building. ...
FSCL Case Study
Two friends were travelling overseas in a small hatchback car when they parked outside a service station to use the bathroom. They left all their luggage in the back of the car, two daypacks in the back seat, and one man left...
Ask an Expert
Question... We have a claim with significant damage, but not yet looking like a total loss, on a six-month-old digger. While the repairs are being undertaken by the official manufacturer, they are saying that the repairs will...
FSCL Case Study
The insured ran an automotive glass repair company. In 2017 his company had to replace 144 windscreens that had sensors in them. The workmen who did the replacements did not recalibrate the sensors after replacing the windscreens. This...
Ask an Expert
Question: The client is a franchise motor vehicle dealer which includes own workshop. They were contracted to carry out a factory recall repair on a tractor which required removal of the motor by the insured and the...
Ask an Expert
Question A number of classic cars are held in a museum. The broker and insurer agree to insure the vehicles under a material damage policy whilst on display. The broker supplies the list of vehicles to the insurer each year and...
IFSO Update
Karen Stevens, Insurance and Financial Services Ombudsman, says the best time for consumers to undersand insurance is before they need it. “It’s both our message to consumers, and to financial advisers who belong...
IFSO Case Study
In September 2006, through the broker, a company arranged cover for a refrigeration truck. In or about September 2009, the company’s director had a telephone discussion with the broker, about adding an endorsement to...
IFSO Case Study
In August 2016, through a broker, the insured arranged insurance on her vehicle. The vehicle was endorsed on to her existing farm package with her insurer. There were no nominated drivers added to the policy. In August 2017, the...
Professional IQ College offers workshops, online courses, webinars and qualifications.
For upcoming events:
