Category Archives: Insurance Pitfalls

THX 4 THE MEMORIES – Avonside photographic exhibition now online.

The 22nd of August 2013 was the official opening of the Avonside photography project Thx 4 the Memories exhibited along Worcester Street. It consisted of photographs of Avonside people by Bridgit Anderson and Tim Veling along with snippets of their … Continue reading

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More support for legislative changes covering insurance non-disclosure

The Insurance Business New Zealand website reprorts that dispute resolution service Financial Services Complaints Ltd (FSCL) supports the Insurance and Savings Ombudsman’s view legislation is needed to deal with non-disclosure and insurance claims. The article is here. The following are … Continue reading

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Legal class action against Southern Response?

Wednesday’s Press has an article Southern Response class action ‘no win, no fee’ here. The proposal, offered by law firm GCA lawyers, is for “disgruntled customers of a major earthquake claims-holder to join “no win, no fee”class action lawsuit.” Sounds … Continue reading

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Insurance Ombudsman wants insurance legislation to cover non-disclosure of information

The Insurance Business New Zealand website is reporting that the Insurance and Savings Ombudsman Karen Stevens supports legislation to better protect customers relating to information they disclose to an insurer. The following are extracts from the article (the full article … Continue reading

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Fair Insurance Code 2016– where to now?

The revised Fair Insurance Code has yet to be ratified. It is to be considered at the ICNZ AGM some time this month and “there may be minor adjustments” to the Code. One wonders what “minor” might allow by way … Continue reading

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Concerned IAG may cash you out?

Lawyer Duncan Webb from law firm Lane Neave has written an article My insurer wants to cash settle my claim … which covers the issues IAG customers might find themselves facing. The article is here. It is very informative, practical … Continue reading

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Summarising the Revised Fair Insurance Code – Part 3

Insurance policies and the associated code of conduct cannot be seen in isolation from those who buy the policies, and the claims experiences they undergo. So far the Revised Code has been considered without much direct reference to the human … Continue reading

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Summarising the Revised Fair Insurance Code – Part 2

In this post we will look at whether the Code is fair or transparent, and whether utmost good faith remains relevant to New Zealand insurance practices. Is it a Fair code? No. There is no definition within the Revised Code … Continue reading

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Summarising the Revised Fair Insurance Code and its shortcomings – Part 1

The Fair Insurance Code serves two purposes: operational and political. Operationally the Code exists to briefly sketch how insurance processes work, to make customers aware that both insurers and they have rights and obligations, and that failure to fulfil the … Continue reading

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Fair Insurance Code Questions & Answers – Part 3

In the previous post, covering FAQ 7, it was stated that an underlying purpose of the Code was to pre-empt any external control on how insurers carried out their business. The point was also made that as far as interpreting … Continue reading

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