News
See updates and articles from a range of publications about insurance and financial services, including industry updates and consumer tips.
See updates and articles from a range of publications about insurance and financial services, including industry updates and consumer tips.
Insurance complaints can arise due to misunderstandings or unmet expectations. Gradual damage is a common complaint issue, highlighted in this case.
Story from Stuff: 7 November, 2019
Insurance provides cover for accidental and sudden (not gradual) damage. Gradual damage is a common insurance complaint.
Story from Insurance Business Online: 8 November, 2019
Stuff’s Susan Edmunds on how to avoid five common insurance mistakes: read, disclose, take care, don't break the law. Top tips and examples from IFSO Scheme complaints.
Story from Stuff: 7 October, 2019
Karen Stevens, Insurance & Financial Services Ombudsman, has voiced her support for the draft disclosure requirements released by the Government.
Story from RiskInfo NZ: October 22, 2019
Tell the truth - no lie is little when it comes to insurance. Insurance Business magazine on insurance fraud, with Tim Grafton, ICNZ, and Karen Stevens, IFSO.
Story from Insurance Business Online: 2 October, 2019
The car, the boat and the white powder. Not a standard example of a standard requirement: take care of your property. Having insurance doesn’t mean you’re automatically covered.
Story from Stuff: 25 September, 2019
From Vegas to Kuala Lumpa, wherever you are, it pays to be safe and to check your insurance policy before you might need it. Alcohol often plays a part in declined claims and subsequent complaints to the IFSO Scheme.
Story from Stuff: 22 September, 2019
An Aucklander wasn’t covered for the damage to his neighbour’s land after his swimming pool collapsed. His complaint was one of 322 to the IFSO Scheme last year. Policy exclusions were the most common issue.
Story from NZ Herald: 12 September, 2019
Concerned a flight would be cancelled and they’d miss their cruise, a couple decided instead to 10-hour train trip. Their claim for the cost was declined and they complained to the IFSO Scheme.
Story from Stuff: 12 September, 2019
Last year, the IFSO Scheme received only three cases about financial advisers. In this case there was no evidence to show the adviser had misled their client.
Story from Good Returns: 4 September, 2019
Over 24 years, the IFSO Scheme has dealt with hundreds of non-disclosure complaints. Law change is imminent and Tower is making changes already.
Listen to the Radio NZ interview with IFSO Karen Stevens: 10 July, 2019