The Insurance Council of New Zealand are warning boaties that the number of trailered boats stolen from yards and driveways is on the rise as summer kicks off. Insurance Council Chief Executive Tim Grafton said “New Zealand Police are seeing on average 24 boats per month being stolen throughout New Zealand. Unfortunately, the recovery rate …
Christmas time is the busy season for burglars with a higher chance of homeowners being away from home on holidays, out shopping or socialising with friends and family. Insurance Council figures show that there is traditionally a steep rise in burglary related claims in the December-January period with the last 21 day festive season claims …
BURGLARIES COST $400,000 PER DAY IN FESTIVE SEASON Read More »
An agreement between private insurers and the Earthquake Commission (EQC) will simplify how home and contents insurance claims are resolved for people affected by the Kaikoura Earthquake. Under the agreement, private insurers will act as EQC’s agents and receive, assess and settle home and contents claims for earthquake damage from their own customers, even those …
SIMPLER PROCESS FOR SETTLING KAIKOURA EARTHQUAKE CLAIMS Read More »
The Insurance Council of New Zealand believes a significant cause of damage to commercial property buildings following the 14 November Kaikoura earthquake series is a failure to comply with non-structural, seismic restraint guidelines. Non-structural, seismic restraints hold air conditioning, fire-sprinkler, telecommunication, electricity systems, lighting and ceiling support systems in ceiling cavities and other parts of …
FAILURE TO COMPLY WITH STANDARDS A LIKELY CAUSE OF WELLINGTON COMMERCIAL BUILDING DAMAGE Read More »
The Insurance Council of New Zealand advise people who have uninhabitable homes due to earthquake damage to contact their insurer directly for help with temporary accommodation. Most home policies as well as contents policies provide cover for temporary accommodation and emergency evacuation. Each policy wording will differ so people should check with their insurer. Tim …
EARTHQUAKE INSURANCE ADVISORY: TEMPORARY ACCOMMODATION Read More »
The Insurance Council of New Zealand advised today that insurers are working hard to minimise any disruption to the availability of insurance for people putting offers in on houses. Following the 14 November 2016 earthquakes, there has been some disruption to the availability of insurance for people seeking new or increased insurance cover. Globally it …
AVAILABILITY OF NEW INSURANCE FOR HOUSE PURCHASES POST 14 NOVEMBER EARTHQUAKE Read More »
The Insurance Council of New Zealand are advising people to contact their insurer as well as the Earthquake Commission as a result of the earthquakes in the early hours of Monday morning. People who have suffered damage to their home, land or contents from today’s earthquakes have three months to lodge their claim with the …
The Insurance Council of New Zealand announced today that private insurers have paid out nearly $19 billion to settle commercial and residential claims since the Canterbury earthquakes in 2010 and 2011, of which nearly $9 billion was for domestic claims. Chief Executive Tim Grafton said “insurers have now fully settled 94% of all Canterbury earthquake …
Following a disciplinary process, the Board of the Insurance Council of New Zealand (ICNZ) announced today Youi NZ Pty Ltd will pay the maximum financial penalty of $100,000 and has been warned that any future misconduct risks membership termination. The financial penalty will be directed towards funding initiatives that improve consumers’ financial capability. The Board …
The Insurance Council of New Zealand welcomed the announcement today from NZTA that water damaged light vehicles will now need electrical and pyrotechnic safety components replaced. Tim Grafton Insurance Council Chief Executive says “insurers welcome this change as the importation of water damaged vehicles increases the risk of serious accidents, particularly due to failures in …
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