Earlier this month Professional Liability Manager Blair Dyer attended an event hosted by Star Insurance Specialists who create and manage insurance policies for luxury motor vehicles. Blair learned a few things about vehicle repair and shares them here for our readers. With new technology the cost of motor vehicle repairs is increasing. Car bumpers, for […]
Author Archive | Austinsure
A ‘she’ll be right attitude’ to cyber threats simply doesn’t make sense
A ‘she’ll be right attitude’ to cyber threats simply doesn’t make sense Did you know that 56% of Kiwi businesses experience some form of cyber-attack once a year? But only approximately 5% of New Zealand businesses have purchased Cyber insurance cover. There are several forms of cyber threat that are insurable, and most claims […]
Trust law to become more accessible
Trusts Bill – A New Path The new Trusts Bill was finally introduced on 1 August 2017. It’s awaiting its first reading pending input from the Select Committee. The purpose of the new Bill is summarised as: “This Bill will replace the Trustee Act 1956 and the Perpetuities Act 1964 to make trust law more […]
Aviation Operators – beyond Hull & Liability policies
After the recent 2017 Aviation Conference in Hamilton, I noted there was considerable discussion about improving safety and reducing risks and fatigue management. When reflecting on those discussions I was reminded that it’s natural that aviation operators are principally focused on insuring their aircraft, as this is the lifeblood of their business. That aircraft insurance […]
‘Confirm Noted’ is not the same as ‘Confirm Insured’
‘Confirm Noted.’ Have you ever sent a contract to an insurer and received that as a response? ‘Confirm Noted’ does not mean that your insurers have agreed to cover potential liabilities arising from the terms of the contract. It simply means the insurer has noted the contract and any claim arising from that contract will […]
Increased Fire Service Tax – 1 July 2017
In New Zealand, the firefighting services are funded by the Fire Service Levy (FSL) on insurance policy holders. This compulsory Levy is added to the insurance premiums for personal and commercial property, motor vehicles, contract works and other insurance policies. The Government is currently undertaking a consultation process that will result in a merger of […]
Wire strikes and your liability
Following a recently well publicised event where the power to Gisborne was interrupted by a wire strike, many of our clients have asked if they are covered under their aviation policy for the consequential losses arising from proven negligence as a result of taking the powerlines down? We posed this question to Mark Anderson, a […]
Cyber-attacks – do you know the risks?
The recent global ransomware attack “WannaCry” left hundreds of thousands of businesses at the mercy of cyber terrorists. It’s the latest in an increasing number of cyber-attacks that often target small to medium sized business, particularly those using older software and IT infrastructure. It’s estimated there are over 100 ransomware attacks every day in New […]
EQC levies rise 33%
Last week’s Government budget announcement included measures to top up the National Disaster Fund, which pays out claims related to earthquake damage. This will mean that homeowners’ insurance premiums are set to rise by up to $69 a year. At present, insured homeowners pay a premium rate of 15c per $100 of insurance cover, to […]
Resident Land Withholding Tax (RLWT) Act – an insurance solution
The broader benefits of a consultative approach to insurance solutions. It was no real surprise that changes were made to Resident Land Withholding Tax (RLWT) Act in the middle of last year. From 1 July 2016, a new tax was imposed on ‘offshore persons’ who sold New Zealand property within two years of purchasing the […]
