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Insurance Business | 06 Mar 2015, 12:12 p.m. Agree 0
A move to review insurance dispute resolution schemes is not initially welcomed by some quarters of the industry.
  • Jbone | 06 Mar 2015, 12:46 p.m. Agree 0
    Completely agree, groundbreaking issues have come from the earthquakes.
  • Tim Grafton CE ICNZ | 06 Mar 2015, 12:49 p.m. Agree 0
    Andrew Hooker's point is well made. Legal clarification in the Courts can affect how policies respond to multiple claims. Where there is a need for clarification like this, it is preferable for the Courts to make a call than have the matter referred to the binding decision of a disputes resolution service. Having said that, the DRS perform a useful means for resolving disputes in many cases. What is not clear from the MBIE proposal is what the implications are - does retrospectivity allow people to return to have another go? If not, were those who did not avail themselves of using DRS because of the $200,000 cap unfairly treated? MBIE shows no sign of having considered these issues in its discussion paper. Indeed, it shows no data to show that there is a significant problem that calls for this approach. It would help all concerned to have had some analysis done.
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