As reported in Insurance News, New Zealand Insurers are working once again to abolish the unfair fire and emergency services levy imposed on Insurance policies. Those who have followed me for a while know the hard work we have put in to fight the same thing here in Australia, where we have been successful in Victoria and through www.NoTaxOnInsurance.com where we continue our efforts for the […]
As you all know, I have worked strongly over the years looking at getting the Australian government to abolish all tax on insurance, namely the Fire Service Levy, from all states. We have been successful in many areas, the New South Wales government is currently phasing out the Fire Service Levy there. Last month however I could not believe that while Australia has almost got […]
Hi Allan We specialise in insurance valuations in my capacity as a valuer. I do lots of work with [name quoted] from [general insurance broker named] brokers who you may know. I had a question which was posed to me by an Owners Corporation Manager and I would love to hear your perspective: In addition to the full replacement/reinstatement value (total limit of liability) – what […]
I read with the interest the joint statement between the Earthquake Commission and the EQC Action Group with the main item, which has hopefully now been resolved, is what constitutes reinstatement. The agreement confirms that reinstatement is to a condition ‘as new’ and not the pre-earthquake condition of the property. This issue, which I thought had been resolved with the introduction of the reinstatement or […]
I read with interest the latest Insurance update from DLA Piper New Zealand. Crossley Gates and his team provide a very useful service to the industry with these updates. The interest to me on this matter was that the update suggests that in New Zealand it has been common practice for an Indemnity Value on a building to be set on the reduction of the market value before and […]
Following a interesting case involving a collection that was destroyed in an earthquake, Steve Manning and I go over the issues in a podcast that I hope you find interesting and informative. Click here to view.
The Supreme Court of New Zealand, the highest court in that country, brought down an important decision last week (27 August 2014) where there have been multiple earthquake claims. The history of the case is that the Supreme Court allowed an appeal by Ridgecrest, a company which owned a building formerly at 215 Gloucester St, Christchurch. The Court ruled that Ridgecrest’s policy underwritten by IAG, provided coverage for each earthquake event […]