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Insurance Business | 17 Dec 2014, 10:29 a.m. Agree 0
Two respected names from a top NZ law firm recently held a class for the Lloyd’s Market Association. But what did one of them learn is lacking in NZ as a result?
  • Bella Moore | 17 Dec 2014, 01:09 p.m. Agree 0
    Crossley is quite right. Coming to NZ from a large UK insurer, there is an unmistakable difference in tone and style. Mostly, I see that as a positive thing: people are more likely to know and trust each other here. Up North, they have to protect themselves against all sorts of misunderstandings which Kiwis would sort out over a coffee rather than in court. But if good will fails, the absence of formality can mean outcomes feel more like the toss of a coin than right versus wrong.
  • Boomer | 17 Dec 2014, 02:29 p.m. Agree 0
    Well said Crossley. The old "she'll be right" way that we had of doing business for many many years ended with the first Canterbury quake and that has got to be for the betterment of the broking profession. It was commonplace to receive advice of a risk on a Friday afternoon from a client - then a quick phone call to the underwriter to get 'held covered' and "I'll get the endorsement to you next week".... I know because I used to do it! Now we are faced with the formalities of correctly dealing with a situation and we know where we stand.
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