Warranty and Indemnity (W&I) products are among the most complicated and least understood in the insurance market, but with a 300% increase in W&I claims across the EMEA region since 2016, the need for them is rising fast.
The latest research from Marsh JLT Specialty showed a 293% rise in claims between 2016 and 2018, and, according to insurance brokerage Aon, New Zealand has not escaped the trend. Aon launched a new Warranty & Indemnity insurance product to its Australian and New Zealand markets earlier this year, and recently appointed a new director of M&A solutions in New Zealand – Jonty Vavasour.
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