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Catch me if you can!

Arnie discovered that his trusted manager had been stealing stock from his carpet business for years. Can Arnie get his insurer to compensate him for the loss of his stock?

High and dry

Issues with a neighbours’ drainage system meant Bernard’s property was flooding at least once per year. Bernard’s made a claim for the cost of court action against the neighbours, to force them to fix their drains. Was the cost of the legal action covered by Bernard’s material damage insurance policy?

“Inflated claim bursts cover”

Dilip’s liquor store was robbed by gunmen who made off with alcohol, tobacco and cash. Dilip claimed under his general business insurance policy for the losses he suffered. The insurance company declined Dilip’s claim and cancelled his policy because they believed he had fraudulently inflated his claim. Does Dilip have any recourse for his genuine claim?

“Why can’t I claim insurance when I can’t use my business?”

Sam’s business was severely affected by the Kaikoura earthquakes. Though his building was not materially damaged, a neighbouring building needed to be demolished before he could begin trading again. Was Sam able to use his business interruption insurance to cover his stop in trading in the intervening 8 months?

Kaikoura earthquake causes loss

Alan claimed for a loss of $50,000 under his business interruption policy. Alan’s insurer accepted the claim but offered compensation of $12,500. Alan contacted his broker assuming the insurer had made a mistake given the cover he had in place. The broker explained that because his lodge was undamaged, he was only eligible for contingent business interruption cover. Alan’s policy limited the contingent business interruption cover to 25% of the total amount insured.

Have you got it covered?

A small business owner had business interruption insurance to cover loss of profits in the event he was unable to operate his business. Tragically, the business owner was murdered at his business premises and the business ceased trading. His widow filed a claim under the owner’s business interruption insurance policy, claiming that the murder had resulted in ongoing and permanent interruption to the business. Was the insurer liable to pay out?

Inflated claim leaves liquor store dry

Brendan’s liquor store was burgled. He made an insurance claim to his business insurer. Although Brendan’s insurer accepted that Brendan had suffered a loss, he believed Brendan’s claim was fraudulent.

Insured wants compensation for insurer’s breach of its policy duty

The building on the premises Max leased to Steven suffered earthquake damage. An insurance claim was made for the building to be repaired. Steven decided to end the lease because the claim process was taking too long. Max was unable to find a new tenant. Max complained that had the claim process not taken such a long time, he would still be receiving rent from Steven and wanted compensation from the insurer.