Alliance Grice  Insurance Broking Group

09-04-2018

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2018 - EQC Changes In The Pipeline

The Minister Responsible for the Earthquake Commission Dr Megan Woods announced changes to the EQC scheme.

These changes include:

• Removing EQC insurance cover for contents.

• Increasing the cap limit on EQC residential building cover to $150,000 (plus GST).

• Enabling EQC to accept claim notifications for up to two years after a natural disaster, rather than the current three-month time limit for such notifications.

• Clarifying EQC’s authority to share information to support the implementation of the EQC Act and settlement of insurance claims and where this is in the public interest and safety (A recommendation of the Canterbury Earthquakes Royal Commission).

The changes will improve how the EQC Act functions and enable the scheme to work more effectively for future natural disasters. The changes simplify and speed up the claims process, and resolve issues with the EQC Act that have previously been identified by the Ombudsman and the Canterbury Earthquakes Royal Commission.

The Minister's media statement is available on the Beehive website.
 

09-04-2018

Some Useful Fire Prevention Tips For Our Rural Clients 

Here are some tips, as enumerated by FENZ, when lighting fires:

• Avoid burning in windy conditions;

• There should be someone to watch over the fire at all times;

• Always have a hose, water bucket or water cart at the ready;

• If you have had a burn, make sure you first wash down the burn area to remove any residual heat – some burn piles in the right conditions can remain hot for months.

For more information please here

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30-05-2017

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Fire Service Levy Overhaul

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You may be aware that the government has announced an overhaul of the fire service levy effective 1 July 2017.    This is a government levy chargable on all property insurance which effects both commercial and domestic customers.   Please read a little more on this increase here

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01-06-2016

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Property Managers and Private Landlords - The new Health and Safety at Work Act 2015

 

The new legislation requires all Persons Conducting a Business or Undertaking (PCBU) to ensure the health and safety of workers and others so far as reasonably practicable and also places a duty on directors and officers to ensure their organisation is taking all proper steps to comply with their duties.

 

Property owners, property manager and contractors/handyman engaged by a property owner or property manager are all classed as PCBU’s (the new primary duty holder under the Act).

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Property Managers and landlords may be aware that their responsibilities have increased under the new HSWA. Residential landlords may not be aware of their increased responsibilities.

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Insurance Protection Available:

Under The Health and Safety at Work Act 2015 a Statutory Liability cover does not indemnify the Insured for the fine (as it would be illegal for an insurer to do so), but provides indemnity for any reparations ordered as the result of a prosecution and would also pay defence costs up to the sum insured.

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If a residential landlord has their insurance with us, while there is a liability cover in the domesitc policy you should consider obtaining a statutory liability policy noting the occupation as landlord / property owner to gain the protection noted above. 

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Are "drones' covered under a general liability policy?

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It would have to be impossible to have not noticed the latest craze in 'gadgets', namely, the increasing proliferation of drones, otherwise known as UAV's (Unmanned Aerial Vehicles).   They are used in a wide array of businesses such as aerial photography, aerial spot spraying, TV & media, search & rescue, farming operations etc.

 

From the perspective of liability policies, where do they fit in?   Short answer is that they don’t!   Generally liability policies exclude "ownership, maintenance, operation or use... of any aircraft".   Aircraft is generally accepted as being defined as "any machine or device that is capable of flight" which clearly excludes the use of "drones'

 

If you use a drone in your operations please contact us so we may help organise the correct cover to include this widely used gadget.

 

For more information please see this Vero Liability market bulletin.

 

 

27-05-2014 (Update) / 24-01-2014

 

Businesses urged to prepare for increasing threat of cyber attacks. Local companies are 'woefully underprepared' and need to protect themselves

 

Read more at http://www.interest.co.nz/business/70103/businesses-urged-prepare-increasing-threat-cyber-attacks-local-companies-are-woefully

 

Cyber Risk Insurance

A new product on the market is AIG CyberEdge® policy.    Cyber risk has become a real liability risk for business around the world.  

 

This is a specialised product CyberEdge® is a comprehensive risk management solution for cyber insurance offered by AIG. In a rapidly changing landscape, CyberEdge provides innovative protection to help businesses safeguard against sensitive data breaches, computer hacking, dumpster diving, computer viruses, employee sabotage or error, pilferage of information, and identity theft.    It may help you stay ahead of the curve and provide responsive guidance based on years of experience.   The protection that CyberEdge provides is a valuable additional layer to the most powerful first line of defense against cyber threats—a company’s own IT system.

 

AIG's CyberEdge® claims specialists are ready to assist a company’s IT department with managing the aftermath of a cyber attack the moment it occurs.

 

Please refer to the "read more" link for claims scenarios and further product details.

 

Please contact us to discuss this policy further.