The Supreme Court has issued its decision in Xu v IAG. A split decision with 3 Justices (William Young, O’Regan and Ellen France JJ) against the appeal and 2 Glazebrook and Arnold JJ dissenting. My quick reading is that Bryant is still in force, although clarified and some...
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Consumer New Zealand has published the results of a survey showing that public trust and confidence in the insurance industry is low (1). The specific conclusions from the study are: Our latest survey research found:Consumer trust in the insurance industry was low.  Jus...
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There has been a lot of comment lately about whether the building code is fit for purpose(1). This is wrapped up in the media/PR drive around "risk based pricing" and coincides with concerns around the safety of modern compliant buildings under earthquake conditions. The arg...
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Sharing the risk - update

March 14, 2019
So we've heard that IAG's reason for ceasing to offer domestic insurance in Wellington is because they are over-exposed in the region. Apparently IAG through its many and varied brands (State, AMI, Lumley, various Bank products, Lantern, and NZI) has over 50% of the market i...
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Sharing the risk?

February 12, 2019
In light of news that insurers are now using "risk based pricing"* which means that "high risk areas" won't be offered certain classes of business https://www.radionz.co.nz/news... I thought I'd offer some thoughts on the performance of the domestic insurance marke...
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The Reserve Bank and FMA have publicised their findings of poor practices within the life insurance industry; https://fma.govt.nz/news-and-r... . The review raises issues around culture and practice in sales and claims. It's no secret that there have been concerns ...
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Yesterday, 1 August 2018, the Ministry of Justice published the a bill to establish an insurance Tribunal to address insurance disputes arising from the Canterbury Earthquake Sequence of 2010 in 2011. The Tribunal will be called the Canterbury Earthquakes Insurance Tribunal ...
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Insurance in New Zealand is about to go some significant changes, I was invited to give my opinion on an aspect of this on Radio New Zealand this morning. Please listen below (I'm on for the last 10 minutes)https://www.rnz.co.nz/national/programmes/ninetonoon/audio/201869723...
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Lost in Translation

April 11, 2019
Note this article was originally published by Legalwise https://legalwise.com.au/nz/insurance-non-disclosure-lost-in-translation-for-esl-speakers/IntroductionNew Zealand is a nation of immigrants, the 2013 census showed that one in four Kiwis were born overseas. If new migra...
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