avonsidechch

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Name Lawrence
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Suburb Avonside
Twitter @avonsideblog
Member Since 20/06/2011
Last Login 19/08/2012

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More support for legislative changes covering insurance non-disclosure

More support for legislative changes covering insurance non-disclosure

Wednesday, 6 May 2015 9:03 a.m. by avonsidechch

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 extracts from the article: “We are a step behind overseas jurisdictions like Australia and the UK. “I think

Residential Red Zone offer feedback sought

Residential Red Zone offer feedback sought

Wednesday, 6 May 2015 12:15 a.m. by avonsidechch

CERA is seeking feedback on their Preliminary Draft Residential Red Zone Offer Recovery Plan. 

Legal class action against Southern Response?

Legal class action against Southern Response?

Thursday, 30 April 2015 6:10 a.m. by avonsidechch

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 too good to be true (and potentially is). Click on the link to continue. The following extract from the Press article is important and needs to

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

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

Tuesday, 28 April 2015 6:40 a.m. by avonsidechch

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 is ).

A plan followed by consultation for the outstanding red zone Crown offers

A plan followed by consultation for the outstanding red zone Crown offers

Tuesday, 21 April 2015 9:20 p.m. by avonsidechch

Earthquake Recovery Minister Gerry Brownlee has decided that everyone can have a say on what level of pay-out should be provided to those in the Red Zones who have been ineligible so far (uninsured owners of land and property). It is hard to tell whether the Minister has suddenly been overcome by a desire to indulge in participatory decision making or it is a device to allow public participation

Help with making an Official Information Act (OIA) request

Help with making an Official Information Act (OIA) request

Wednesday, 15 April 2015 1:30 p.m. by avonsidechch

The New Zealand Herald is helping to re-establish a website designed to make requesting official information as easy as possible. From the Herald’s website: The Herald is helping relaunch FYI.org.nz - a website which helps members of the public to make Official Information Act (OIA) requests. Rowan Crawford, a software developer, set up the FYI website after a 2009 Open Government event as the

Fair Insurance Code 2016– where to now?

Fair Insurance Code 2016– where to now?

Monday, 23 March 2015 6:15 a.m. by avonsidechch

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 of changes.

Summarising the Revised Fair Insurance Code – Part 3

Summarising the Revised Fair Insurance Code – Part 3

Friday, 20 March 2015 7:18 a.m. by avonsidechch

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. 

Summarising the Revised Fair Insurance Code – Part 2

Summarising the Revised Fair Insurance Code – Part 2

Tuesday, 17 March 2015 6:30 a.m. by avonsidechch

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.

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

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

Thursday, 12 March 2015 6:35 a.m. by avonsidechch

The Fair Insurance Code serves two purposes: operational and political. 

Fair Insurance Code Questions & Answers – Part 3

Fair Insurance Code Questions & Answers – Part 3

Monday, 9 March 2015 6:50 a.m. by avonsidechch

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 insurance policies is concerned, insurers are very strong advocates of the Humpty Dumpty Position: "When I use a word," Humpty Dumpty said, in a rather scornful tone, "it

Fair Insurance Code Questions & Answers – Part 2

Fair Insurance Code Questions & Answers – Part 2

Saturday, 7 March 2015 8:20 a.m. by avonsidechch

Why is ICNZ so keen on having a Fair Insurance Code, and prickly over criticism directed at the Code? 

A helpful change to the insurance disputes process coming up?

A helpful change to the insurance disputes process coming up?

Friday, 6 March 2015 6:35 a.m. by avonsidechch

Yesterday Paul Goldsmith, Minister for Commerce and Consumer Affairs, announced  the opening of consultations on changes to the maximum amount that could be taken to the insurance industry’s disputes resolution services (the full media release is below). The change proposed is an  “… increase to the cap on the compensation that dispute resolution schemes can award in relation to disputes about

Kaiapoi Red Zone photographic exhibition

Kaiapoi Red Zone photographic exhibition

Thursday, 5 March 2015 7:30 a.m. by avonsidechch

The Kaiapoi Public Library is currently hosting an exhibition of Red Zone photographs by Cosmo Kentish-Barnes. Cosmo  spent a few months around Kaiapoi photographing earthquake damage. F

Fair Insurance Code FAQ – Part 1

Fair Insurance Code FAQ – Part 1

Wednesday, 4 March 2015 6:21 a.m. by avonsidechch

The FAQ (Frequently Asked Questions) is not part of the Revised Code, just an explanation of the Review process and some of the positions taken by ICNZ on particular issues.

Assessing the ICNZ Revised Fair Insurance Code - Part 3

Assessing the ICNZ Revised Fair Insurance Code - Part 3

Monday, 2 March 2015 6:35 a.m. by avonsidechch

This post considers the final part of the Revised Code. 

ICNZ make a more detailed response.

ICNZ make a more detailed response.

Sunday, 1 March 2015 8:00 a.m. by avonsidechch

Thursday’s blog covered the Insurance Council of New Zealand’s (ICNZ) response to an article on an insurance business website. The article featured the Avonside Blog’s commentary on the revised Fair Insurance Code. 

Assessing the ICNZ Revised Fair Insurance Code - Part 2

Assessing the ICNZ Revised Fair Insurance Code - Part 2

Saturday, 28 February 2015 6:28 a.m. by avonsidechch

As we get further into the Revised Code the number of new issues raised slows down. 

Where to from here for ICNZ?

Where to from here for ICNZ?

Friday, 27 February 2015 6:30 a.m. by avonsidechch

First, a minor correction regarding yesterday's post. The title, as originally posted, was almost what was intended, but not quite so my apologies for that. It was a bit of tongue in cheek and there was supposed to be a question mark at the end of the title – the omission was missed and I have now put one there. Even the Avonside blogger can get a little irritated and distracted when a lot of

The Empire strikes back.

The Empire strikes back.

Thursday, 26 February 2015 6:20 a.m. by avonsidechch

A journalist for Insurance Business Online yesterday wrote an article entitled New code slammed by earthquake blogger (here). It is a concise and well organised look at how the Revised Code is being analysed on this blog. Shortly after the article was published Tim Grafton, Chief Executive of the Insurance Council of New Zealand (ICNZ), made the following comment: Surprised and disappointed that

Assessing the ICNZ Revised Fair Insurance Code - Part 1

Assessing the ICNZ Revised Fair Insurance Code - Part 1

Wednesday, 25 February 2015 6:30 a.m. by avonsidechch

Now we get to the nitty-gritty. If a paragraph by paragraph analysis isn't your thing come back next week, when we will be looking at the important stuff that was left out of the Revised Code. 

Comments on the ICNZ Revised Fair Insurance Code - Part 2

Comments on the ICNZ Revised Fair Insurance Code - Part 2

Friday, 20 February 2015 6:10 a.m. by avonsidechch

The whole viability of the insurance industry depends upon utmost good faith which, according to ICNZ on their website here, means: An insurance policy is a contract of ‘utmost good faith’ between the insurer and the customer. The insurer is required to observe and honour the contract conditions. The customer is required to disclose to the insurer all material facts that could affect the risk.

Comments on the ICNZ Revised Fair Insurance Code - Part 1

Comments on the ICNZ Revised Fair Insurance Code - Part 1

Thursday, 19 February 2015 6:10 a.m. by avonsidechch

An initial reading of the Revised Code creates the impression of it being a reasonable document. If you were not familiar with what had happened with insurance claims post-earthquake a second glance would seem unnecessary. To not take a second look at the words used, but bask in the warmth and comfort promised by the publicity hype, would be a dangerous oversight. Dangerous because

The Revised Fair Insurance Code

The Revised Fair Insurance Code

Tuesday, 17 February 2015 6:30 a.m. by avonsidechch

There has been a flurry of insurance related developments this month.

The Avonside Blog will be back in action soon

The Avonside Blog will be back in action soon

Thursday, 12 February 2015 6:10 a.m. by avonsidechch

There are a couple of items of unfinished business relating to insurance and Official Information Act requests to be addressed. As a result there will be a few postings over the next couple of weeks.

Blog update - going into recess

Blog update - going into recess

Saturday, 24 August 2013 8:15 a.m. by avonsidechch Featured Popular

The Avonside Blog is going into recess. Why?

Avonside photography project – Official opening of Thx 4 the Memories

Avonside photography project – Official opening of Thx 4 the Memories

Friday, 23 August 2013 8:27 a.m. by avonsidechch Popular

Yesterday was the official opening of the Avonside photography project

Fracking and earthquakes

Fracking and earthquakes

Wednesday, 21 August 2013 3:35 p.m. by avonsidechch Popular

From the website Science Daily (here). How Shale Fracking Led to an Ohio Town's First 100 Earthquakes Aug. 19, 2013 — Since records began in 1776, the people of Youngstown, Ohio had never experienced an earthquake. However, from January 2011, 109 tremors were recorded and new research in Geophysical Research-Solid Earth reveals how this may be the result of shale fracking. In December 2010,

Another Red Zone rebuild reversal

Another Red Zone rebuild reversal

Wednesday, 21 August 2013 6:35 a.m. by avonsidechch Popular

A Red Zoner, having signed off with CERA just before the 31st of July, has now had the house that was a rebuild reclassified as a repair. .