Spratt Financial Services: Insurance, Investment and Mortgages: Insurance News Roundup

Showing posts with label Insurance News Roundup. Show all posts

Tuesday, March 6, 2018

Financial News Roundup March 2018

1. Auckland Maori Hapu to provide free health insurance for its members. - NZ Herald

Auckland based Ngati Whatua Orakei has joined with NIB to provide its members free health insurance in an arrangement that is likely to cost around $3 million annually.

2. Thousands of recently built homes covered by liquidated CBL Insurance. - Stuff.co.nz

The Insurance for thousands of recent homes covered for shoddy building practices could be put into limbo as CBL Insurance has officially gone into liquidation.

3. What went wrong at CBL? - NZ Herald

In a follow up to the previous article, the Herald looks at what factors surrounded the collapse of CBL and how it went from a trusted insurer to liquidation in the NZ marketplace.

4. Home Insurers crack down on Meth Claims. - NZ Herald

As overall claims for methamphetamine related damage increases year over year, insurers have greatly hiked excesses for meth claims and premiums to curb losses.

5. Kiwisaver fee drop 'missed the mark'. - Good Returns

A review of the default fees for KiwiSaver providers led to only two of nine major providers changing their fees in response.

6. Partners Life introduces a new range of level premium options. - Good Returns

Partners Life have introduced level premium (fixed premiums which remain the same until an agreed upon age) options for its suite of personal and business insurance products.

7. A bumper year forecast for mergers and acquisitions. - NZ Herald

Pent up demand following last year's elections may lead to a major year for acquisitions and mergers, industry insiders tip.

Tuesday, March 15, 2016

Insurance News Round Up

1. Quirky contents insurance claims highlighted to encourage customers. - Insurance Business Online

"Some customers don't make a claim because they don't realise their more unusual items are covered under their contents insurance" - AA Insurance gives a reminder to potential customers that they may be underestimating the value of their contents insurance and what is truly covered.

2. Where to find the best travel insurance. - Stuff.co.nz

Southern Cross Travel insurance, 1Cover and Worldcare have been named the travel insurance providers who best provides "outstanding value".

3. New Zealanders lack insurance for their most important asset. - Stuff.co.nz

Whilst 95% of Kiwis have cover for their homes, cars or possessions, only a mere 30 percent of New Zealanders are covered by health insurance and only 57% have life cover.

4. Southern Cross Travel Insurance reveals the extent of fake claims. - Voxy.co.nz

SCTI have revealed the regular extent of fraudulent travel insurance claims they receive, estimating upwards of 1500 cases a year may be fake claims.

5. Sovereign targets underinsured millenials in latest insurance campaign. - Good Returns

New digital led campaign aims to combat excuses, empowering young Kiwis to stand up and take charge of their financial wellbeing.

www.sprattfinancial.co.nz

Monday, January 11, 2016

Financial News Round-up - New Years 2016

1. 5 health insurance resolutions to consider in 2016. - NZ Herald

Some great things to consider with regards to your health insurance in 2016 including considering deadlines, when to make changes, and how to get familiar with your coverage.

2. UK Insurers reject almost 50% of mobile phone claims. - Insurance Business Online

As mobile phone insurance becomes more and more of a necessity, UK insurers have been doing the industry and their clients a disservice by finding means to reject claims, including not having certain apps installed and not having SIM cards inside.

3. NZ's largest general insurer introduces a new CEO. - Interest.co.nz

Craig Olsen has taken over the top job at IAG as part of a new leadership team announced just before the New Year. He is taking over from former CEO Jacki Johnson.

4. Daily mortgage rates from the major suppliers. - Interest.co.nz

Handy tool to keep track of mortgage rates from the major lending suppliers in NZ.

5. To cash up, or to keep your money in Kiwisaver? - NZ Herald

A good article featuring tips on what to do with your money in your Kiwisaver and how to make the most of it. Also, keep in mind Spratt Financial's free Kiwisaver consultation service to help make sure your Kiwisaver is performing the best that it can.

6. New website educating the public about personal insurance products set to launch. - Good Returns

Life-Info.org.nz currently preparing for launch in the New Year aims to add to the financial literacy of the NZ public as it relates to the crucial matter of personal insurance.

7. New Year's resolution: Financial fitness tips for retirees. - NZ Herald

Older people were recently found to be less likely to set financial goals than younger people. Experts in the field have put together their best tips for older people to become financially fit and secure.

Visit the official website of Spratt Financial Services here.

Wednesday, June 24, 2015

Breaking News (June 2015)

1. Do you have a plan for who will manage your money if you can't? - NZ Herald

If a family member suffers a severe illness or accident and can't continue to manage their affairs, you don't want legal wrangling and financial stress added to your burdens. It's always best to make sure you have a written plan and/or legal will in place so that you and your dependants will be okay if the worst happens.

2. AIA announces profit growth. - Good Returns

One of New Zealand's premier insurers has announced an underlying growth of 21% in profits for the year for the 12 months to November 30th 2014.

3. Self-driving cars: Insurers sceptical about impact on business. - Insurance Business Online

84% of business executives surveyed in the US did not expect the self-driving car to impact business until 2025 but are they ignoring the speed of a revolution? Industry insiders saying Self-driving vehicles could completely revamp the structure of Vehicle Insurance worldwide.

4. Humor: Insurance Fraudster tries to cash in a claim on a fake dead cat. - Insurance Business Online.

An American man has demanded an escalating amount in successive claim requests for emotional damage inflicted by the death of his cat in a car accident. The problem: There is no such cat and the pictures he supplied were of two different cats from Google.

5. Average Auckland house price up $100,000 in a year, but available listings down. - Interest.co.nz

Auckland housing boom continues as New Zealand's largest real estate agency sold a record number of houses in May, showing no sign of the usual winter downturn.

6. Flooding: Insurance claims reach towards $10 million. - Stuff.co.nz

Insurers have received close to 2,000 claims after severe flooding in the lower North Island over the weekend of the 20th June.

7. Annual health insurance payouts rise by $38 million. - NZ Herald

Following on from a previous story posted on the blog, the annual health insurance payout figure has been revised upward yet more. This is the first time since the statistics have been kept that $1 billion has been paid out in claims nationwide.

8. Cold snap hits New Zealand: Could we see record low temperatures? - NZ Herald

Ice and snow covers South Island roads and last week, Queenstown airport was forced to cancel a day's worth of flights. The record low tempearture recorded in New Zealand of a shocking -25 degrees may be under threat if the cold continues. Drivers are urged to stay safe on the road and to keep alert and warm.

Visit our official website at www.sprattfinancial.co.nz.

Thursday, December 18, 2014

Spratt Financial Christmas News Roundup (Part Two)

1. Tips to avoid becoming a Christmas burglary statistic. - Yahoo.co.nz

It's an unfortunate fact that burglary is rife during the festive season when many of us are away on holiday. Here are some tips to stop this from happening to you. Home and contents cover is a good start, but it's a good idea to be prepared, vigilant and take precautions to make sure your Christmas is as happy and stress free as can be.

2. Onepath life introduces new products to meet consumer demand. - Good returns

In the most significant product enhancement in years, Onepath has released two new income protection covers and one redundancy cover, including enhanced features such as new loss of earnings cover and 115% cover on mortgage repayments.

3. Rising housing costs hit wallets hard. - Stuff.co.nz

Average NZ incomes have not risen at a high enough pace to keep up with rising housing costs. Whilst incomes have risen 3.1%, the average spent on housing has jumped by more than double this figure, by 8.6%.

4. Why some people work on Christmas Day - BBC News

Spare a thought for those of us working on Christmas day, providing valuable service. Here are some of their stories courtesy of the BBC.

5. Forecasters predict a warm Christmas with a chance of rain. - NZ Herald

The last weeks, Auckland has experienced some horrendous weather on and off, the weather for Christmas is forecast to be warm, with a chance of rain. Fingers crossed it passes us by, surely we are due for some good stuff!

6. Top 10 hot items for Christmas. - NZ Herald

Statistics from recent Trademe searches reveal the hottest Christmas purchases for New Zealanders in 2014.

Thursday, December 11, 2014

Spratt Financial News Roundup

1. Five minutes with the head of Zurich New Zealand Claims department. - Insurance Business Online

Here, Brian Chikanya related that he believes that insurance products are very often misunderstood and this is one of the things about the insurance industry he wishes to change. We do too, both by helping simplify the insurance process, as well as better explaining the benefits to clients and the public.

2. A Christmas treat for the needy in Wairarapa on Christmas. - NZ Herald/Wairarapa Times

Carterton residents who would otherwise be alone this Christmas, or those in need of a good Christmas meal can congregate at the Carterton Events Centre where for 14 years, volunteers have dedicated their day to providing a wonderful community experience. A nice story to put a smile on your face this Christmas season.

3. Kiwis warned not to leave valuables in their cars. - NZ Herald

One major car insurance company paid out $810,000 in car theft claims, and in the wake of a survey in which a third of New Zealanders admitted to leaving valuables in their car, Kiwis are warned to take valuable items with them this Christmas.

4. Aussies currently leading the way with Health Insurance. - NZ Herald

Only 12.5% of New Zealanders over 65 are covered by health insurance, as opposed to a comparatively huge 52% in Australia. Australian investors have become excited about health insurance, showing us in New Zealand a possible way forward for the industry.

5. Kiwisaver bill has first reading in parliament. - Good Returns

This proposal could have a huge impact for Kiwisavers as it would allow members to withdraw Government tax credits, as well as their own contributions, and also doubles the subsidy for first home buyers. We will keep you and all of our clients currently with Kiwisaver updated on the progress of the bill.

6. One in five New Zealanders possibly renters for life. - Stuff.co.nz

The harsh housing market, especially in Auckland, is leading Kiwis to accept the possibility that they may be renters for life. Even in the current market however, there may be finance options available to make first home buying a reality. Send us an enquiry and our mortgage/lending team might be able to make your dreams of owning a home come true.