Insurance & Financial Services Ombudsman Scheme
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News
FMA Financial Adviser licensing guide
On Monday, 17 November, the FMA and Financial Advice NZ will launch a full licensing application guide for Advisers. The guide will cover licensing standards across seven conditions including record keeping and internal complaints processes.
Story from Good Returns: 12 November, 2020
Napier residents: contact your insurer before you clean up
In the aftermath of devastating flooding and landslips, we urge Napier residents to take care at home and on the road, photograph the damage, and contact your insurer before you clean up.
Photo from Newshub: 11 November, 2020
$43K ute repossessed
The CCCFA sets out lender responsibilities for consumer protection. When Charlie, who was terminally ill, couldn't repay a $43,000 loan, his ute was repossessed. The lender made mistakes, which displayed unfortunate conduct, particularly given Charlie’s vulnerabilities.
Story from Stuff: 10 October, 2020
Featured Case Studies
An excess is paid when claims are accepted. If there is more than one event, more than one excess can be applied.
Viv’s claim, for carpet damaged by dog vomit and diarrhoea, was accepted. But three policy excesses were applied.
See the case summary
Check your exclusions. Most travel policies exclude global pandemics.
Barry cancelled his Bali trip due to Covid-19. His insurance claim was declined due to the pandemic exclusion.
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Check for exclusions and limitations. Travel exceeded 90-day limit on credit card
The credit card travel insurance policy had a 90-day limit. The watch was stolen on day 57 of the 100-day trip.
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Your full medical history must be disclosed when you apply for insurance.
Jin had life and trauma insurance. After his stage 4 colon cancer diagnosis at age 31, he made a claim.
See the case summary