17 April 2012 Businesses Need To Learn Lessons From The 2011 Catastrophes Following the exceptionally severe and prolific catastrophes experienced globally in 2011, organisations now have an opportunity to learn lessons from these events and reduce the adverse impact of future incidents on their balance sheets. More >>
30 March 2012 Professional Indemnity and The Steigrad Ruling
In September 2011 the High Court held in Steigrad v BFSL 2007 Ltd (Steigrad) that where an insurer is aware of a claim for a sum greater than the limit of indemnity, any payments it makes towards directors’ defence costs under a directors & officers liability (D&O) policy do not reduce the sum subject to the Section 9 charge. Any payments by the insurer will effectively be made as a volunteer and it will still remain liable to pay the full indemnity sum to the third party claimants. More >>
20 March 2012 Canterbury Earthquakes - Resolving Claims
A year on from the February 2011 Canterbury earthquake, Marsh has lodged over 2,100 earthquake claims on behalf of our clients with the loss estimates for those claims totalling over NZ$1.8 billion. These loss estimates are rising all the time, as additional complications and damage are uncovered. Marsh has therefore prepared a Client Briefing to provide advice on resolving and settling an earthquake claim. More >>
6 March 2012 New Provisions in Building Act
From 1 March 2012 building work critical to the integrity of a building will be known as “Restricted Building Work”. This creates a personal liability for a LBP (Licensed Building Practitioner) as defined under the Building Act 2004. More>>
13 February 2012 Frederic Boles appointed an Executive Director at Marsh
Marsh, a global leader in insurance broking and risk management, today announced that it had appointed Frederic Boles as an Executive Director, with responsibility for the organisation’s Financial and Professional Services (FINPRO) business across New Zealand. He will be based in Auckland and report to Country Head, Grant Milne. More>>
