At AIB Insurance one of our key aims for all of our customers is to ensure they are adequately insured. This not only means making sure they’ve got the right things covered, such as their house and contents, vehicles, business etc., but that they also have the right amount of cover for each of their policies.
New Zealand is a great place to run a business but there are many rules and regulations that dictate what you can and can’t do, and navigating these can be complicated and challenging. While most Kiwi businesses intend to comply with New Zealand law, there are many cases of businesses unintentionally breaching these rules, which can result in consequences that make continuing to run the business difficult.
New Zealand is a great place to run a business. In fact, we’ve been ranked as the number one country to start and run a business four years in a row. But that’s not to say there aren’t still significant challenges and risks involved, especially for company Directors and Officers.
You may have heard, read or received a message in the last few months from your insurer telling you that your premiums are going to be increasing. We understand that’s not the news many want to hear, so we thought it’d be useful to explain why premiums are set to increase.
It’s been a difficult couple of months for many New Zealanders, especially those in Auckland, Northland, Gisborne and Hawke’s Bay who have all been affected by the floods and Cyclone Gabrielle. All over the news we’ve seen videos and images of dangerous flood water, destroyed buildings and damaged property, not to mention the heart breaking loss of life.
As 2022 draws to a close, I’m sure many of you are looking forward to a break and some time away with family and friends – a chance to recharge the batteries, reflect on the year that’s been and look forward to the year ahead.
Having a small bach by a long stretch of golden sand has always been part of the Kiwi dream. There’s no better place to spend a summer than on the beach eating hokey pokey icecream, fishing off the rocks and building sandcastles with the kids. But, like all your assets it’s important your bach is insured and you and your family are protected against any unforeseen events that might come your way.
Over the last few years we’ve seen a number of key factors having an increased influence on the insurance market in New Zealand, which has resulted in shrinking capacity for insurers and rising premiums for consumers.
From 1 October 2022, the amount of cover offered by Toka Tū Ake EQC (EQC) for houses damaged in natural disasters is increasing from $150,000 to $300,000 (plus GST). This means that if your house is damaged in an earthquake, tsunami, volcanic eruption, hydrothermal activity or landslide EQC will now cover up to the first $300,000 worth of damage.
As borders continue to open up around the world and Kiwis start to pick up on the travel plans they’ve had shelved for the last few years, the topic of travel insurance has never been more relevant.
