Client resources

Your duty of disclosure

You must promptly advise us of any changes in risk, business developments or any further information likely to affect the Insurer’s decision to insure you, and the terms and conditions on which they insure you. This obligation is ongoing during the time you have the insurance. If there are changes in risk, business developments or any further information and you do not tell us promptly, cover may not apply.

It is your duty to advise us of all matters which may affect the initial arrangements or renewal of your insurance protection. Examples of such matters include:

• Changes and developments outlined in the section below

• Changes which may increase the possibility or extent of a claim

• For Personal Accident and/or Disability Insurance Protection, details of any disease, illness or injury which you have suffered or of which you may become aware

• Convictions

• Previous accidents, losses, damage or liabilities (even if claims were not made for them)

Homes, contents, private motor, travel & pleasurecraft policies

Examples of things you need to disclose:

  • Renovations, alterations or additions to existing buildings, or additional properties added to the land
  • Unoccupancy in excess of 60 days of your home, rental property, holiday home and the like
  • Changes in occupancy of your home, rental property, holiday home and the like
  • Items that need to be specifically noted on your cover (especially high-value items)
  • Your bankruptcy or insolvency, criminal activity or associations or convictions
  • Alterations or disconnection of previously advised fire or burglary prevention systems
  • Hazardous processes, or any circumstances giving greater than normal risk of loss

When you have a vehicle insured, examples of what you must tell us are:

  • Of any driving offences, fines or infringements, changes of drivers, or changes in their percentage of use of the vehicle
  • Any modifications to the vehicle
  • Changes in use of the vehicle or where or how it is stored

When you are purchasing travel insurance, you need to advise:

  • If any travellers to be insured have any pre-existing medical issues (whether you intend to seek cover for these or not)
  • If any travellers intend to undertake any high-risk adventure activities whilst travelling
  • Any high-value items that will be accompanying travellers
Business and all other insurance policies

Examples of any changes or developments you need to disclose:

  • Purchase or occupation of new properties
  • Renovations, alterations or additions to existing buildings or plant
  • Changes in occupancy, process manufacture or business activities
  • Removal of assets to new locations
  • Alterations in type, quantity or storage method of dangerous goods
  • Installation, alteration or disconnection of fire/burglary systems
  • Alteration of any financial arrangements or property
  • Tenders, installations and major expansion – submit details in advance for advice or insurance ramifications
  • Hire, lease or borrowing of equipment (inward or outward)
  • Contractual Liability, granting of indemnity or ‘hold harmless’ agreements
  • Dependence on a new outside supplier or customer
  • Changes in basis of sales and purchases both within New Zealand and overseas
  • Any overseas business activities
  • Installation of pressure plant or key machines
  • Use of private aircraft or watercraft
  • Acquisition of controlling interests or joint undertakings in another company
  • Any threats to cause harm or damage to the company’s property, trading activities or injury to personnel

Note: The examples on this page are not exhaustive – if in doubt it is safer to tell us.

Insurers may decide not to pay claims and cancel or void the policy (possibly from when it started) if material facts are not disclosed. These are facts which if known to a prudent insurer would influence its judgement in fixing the premium or determining whether it would have taken or continued the risk upon substantially the same terms and conditions. In addition to the examples listed above, facts relating to previous claims history are material.