Insurance

Transactional
We have extensive experience in complex commercial transactions involving the insurance sector. We advise clients on mergers and acquisitions involving insurers and reinsurers, restructuring their insurance businesses, the transfer of insurance portfolios, as well as advising overseas insurers seeking to establish insurance operations in New Zealand.

Our significant experience in this extensive range of practice areas means that we provide our clients with responsive, commercial, and solutions-focused advice.​​

Litigation
Our team has represented clients in some of the most significant New Zealand insurance litigation cases over the past few years, including the Supreme Court Steigrad case and the Supreme Court fire service levy case.

Claims
We act for both insurers and insureds in a wide variety of claims work, including general and fire insurance, liability insurance (including professional indemnity and D&O), life and medical insurance, and reinsurance.

Products and policy wording
We regularly advise insurers and insureds on insurance product issues, policy wording, white label insurance products, and the development of new product disclosure documents.

Regulatory
Our team has regulatory expertise, including in relation to the Insurance Prudential Supervision Act and Reserve Bank insurance requirements.​

ACE Insurance global merger
Advised ACE Insurance on the New Zealand aspects of the global merger of The Chubb Corporation and ACE, a US$29.5 billion transaction​.

Sale of AMI Insurance to IAG​
Advised AMI Insurance on the separation and the sale of its ongoing insurance business to IAG for NZ$380 million.​ ​

AMI insurance Crown support package
Advised AMI Insurance on its change to Crown ownership and the establishment of Southern Response Earthquake Services.

Insurance litigation

Southern Response Earthquake Services class action
Successfully represented Southern Response in opposing an application by insureds for High Court approval to proceed as a representative class action. The customers alleged that Southern Response misrepresented its obligations under insurance policies, unreasonably delayed in processing and settling claims, and understated the true costs of rebuilds and repairs.

Steigrad Supreme Court decision
Acted for PwC in the Steigrad case which involved successfully obtaining a ruling from the Supreme Court that a D&O insurance policy was subject to a charge, preventing the directors from accessing defence costs under the policy. The decision had effect on the insurance industry in both New Zealand and Australia, with the case described as a "landmark" and "" decision which has "dramatically changed the landscape for D&O (and E&O) indemnity insurance in New Zealand".

Supreme Court fire service levies on insurance
Acted for the Insurance Brokers Association of New Zealand and Vero Insurance New Zealand in a Supreme Court appeal concerning fire service levies payable on material damage insurance policies. Partner David Friar presented oral argument on behalf of the insurance industry alongside former partner Ralph Simpson.

High Court earthquake claims insurance litigation
Advising Southern Response Earthquake Services on 23 separate High Court cases concerning claims for insurance cover as a result of damage caused by the Canterbury earthquakes.

EQC Increased Flooding Vulnerability Policy Declaratory Judgment
Successfully represented Southern Response Earthquake Services in proceedings concerning earthquake damage to land and buildings resulting in increased flooding vulnerability. The case was heard by a full bench of three High Court judges. The Court accepted partner David Friar's argument on behalf of Southern Response that houses that were susceptible to increased flooding vulnerability as a result of the Canterbury earthquakes were not damaged, and that as a result, increased flooding vulnerability was not covered by EQC (and by extension, also not covered by private insurers).