Insurance Cover - Parked Bike fall due to heavy wind :(

[Oscar]

Bro, do you even KB?

And re the recommendation for a specialist lawyer - you've clearly not had to deal with the aftermath of the earthquakes here. It was tongue in cheek anyway - this would not be a big enough claim for him to get involved.

Here is what I tell everyone. Yes, I am giving you free legal advice. You will want to copy this and paste it somewhere.

Banks and Insurance companies (which sadly are often intertwined) are each two separate companies which happen to share premises and a logo. The one that gets all the publicity is the hearts and flowers side, the "please give us your business" side that says "We are here to help you and we love kittens and puppies and flowers". The other side is the side you likely won't see. Thats the side run by Marcellus Wallace that has a duty to fuck you over by, for example, disputing clear policy entitlements, entering into fraudulent lowball repair contracts to force settlments, doing everything in their power to "add value for shareholders" by NOT paying people what they are entitled to. Ten years of dealing with insurance companies after the earthquakes down here and 25 years of dealing with banks when people get offside have taught me that. You, clearly, have only ever dealt with the puppies and kittens. If Marcellus comes calling though, well, you're on your own.

So more half-baked opinions then.
Name one general insurer in NZ that has common shareholding with a bank.
Also you do not appear to know the difference between an insurer and Govt operations like EQC and Southern Response.

[Oscar]

The current need for reform would be around innocent non-disclosure - as has been done for example in the UK.

This is more to do with Life & Health insurance than this lad's motorcycle insurance.
The definition of material facts is much clearer in respect of fire and general insurer.
Although you no doubt ave some film analogy to entertain us with in this regard.

[Oscar]

Bro, do you even KB?

The reason I rarely look at KB anymore is obvious when one looks at this thread.
Discussions inevitably descend into hyperbole and fuckwittery.

In this case, the OP deserved a simple answer to his question.

[Oakie]

I see in typical KB fashion all the armchair experts are out and as usual, are talking crap.
So in no particular order:

1. It is unlawful for an insurer to rely on an exclusion that has no relevance to the proximate cause of the claim, in this case the lack of a WOF or REG (see 1977 Insurance Law Reform Act S11b).
2. There is no such thing as an Act of God (or even force majeure) in insurance contracts in NZ.
3. It is unlawful for an insurer to decline a claim based solely on a time limit. The insurer must be able to prove that so much time has elapsed as to have prejudiced their interests (1977 Reform Act S9).
4. If you willingly enter into a commercial contract with an organisation that you think …will do everything they can to get out of paying up”, you are the Cunt. Think about it.
5. If your first reaction to an insurance claim is to recommend a lawyer, see 4.

I am assuming here that you dorks actually have insurance on your bike, cars, house and contents etc.
Yet you all have comprehensively proved here that despite feeling the need to crap on about the subject on the interweb – you have never read these documents.
If you had, you will find nary a word about “Acts of God” or time limits or any of the other nonsense posted here.
So if you haven't read your own, why presume that any of your thoughts are valid?

The poor bastid asked for help, not half-baked opinions.

Ouch.
Unfortunately you are correct in pointing out my half baked ideas. I shall now go and hide under a rock and cry.
Thanks.

[Oscar]

Ouch.
Unfortunately you are correct in pointing out my half baked ideas. I shall now go and hide under a rock and cry.
Thanks.

Meh. Common misconception.
Billy Connolly made a movie out of it.

Don't cry, have a drink.
It's lockdown level three which means drinking to excess is encouraged....

[James Deuce]

No such thing as an Act of God, either Insurance contract related or the imaginary version, if that's what you are worried about. WoF and rego have nothing to do with repairing a damaged vehicle except possibly for the obvious "Wheel fell off due to corrosion". I've had my bike blown over by the wind and my Insurance company was dead chuffed that I actively sought replacement parts that were vastly cheaper than OEM and fully supported all my quotes and purchases. The kendal mint cake from Fuel Exhausts was the icing on the cake.

Edit: Just scanned the replies and Oscar is in excellent form.

[HenryDorsetCase]

So more half-baked opinions then.
Name one general insurer in NZ that has common shareholding with a bank.
Also you do not appear to know the difference between an insurer and Govt operations like EQC and Southern Response.

mother fucker have another whisky. "intertwined" was the word I used. "cross selling" is another. I will grant you that they seem to be less so these days, and I dont have the frontline contacts I did about whether or not the success of the Bank's sales staff was predicated on how much other product they sold - which you might be aware led to some heinous abuses and cost the ANZ a fairly significant sum of money in one action.

I dont actually know where to start with "Also you do not appear to know....." Please, do enlighten me.

[HenryDorsetCase]

No such thing as an Act of God.

Simply because something that does not exist cannot perform an act. QED.

[Oakie]

Meh. Common misconception.
Billy Connolly made a movie out of it.

Don't cry, have a drink.
It's lockdown level three which means drinking to excess is encouraged....

'The man who sued God'. Yes ... watched that many years ago.
And yes, I shall dry my eyes and find the gin.

[Oscar]

mother fucker have another whisky. "intertwined" was the word I used. "cross selling" is another. I will grant you that they seem to be less so these days, and I dont have the frontline contacts I did about whether or not the success of the Bank's sales staff was predicated on how much other product they sold - which you might be aware led to some heinous abuses and cost the ANZ a fairly significant sum of money in one action.

I dont actually know where to start with "Also you do not appear to know....." Please, do enlighten me.

That's like saying motorcycle dealers are "intertwined" with oil companies and are "cross selling" helmets.
You should probably have another drink and think about something like - "what the fuck does my rampant paranoia about banks have to do with this poor bastids motorcycle claim"?
And my job is not to enlighten you.
I was answering the lad's question about the wind blowing over his bike, not you blowing some banker...

[Ginge09]

That's like saying motorcycle dealers are "intertwined" with oil companies and are "cross selling" helmets

No it’s not.

Banks and insurance companies are in an agency relationship, as well as being governed by financial services licensing requirements. And an Ombudsman or two.

Bike dealers buy and sell bikes, oil and helmets on a wholesale/retail basis with ( usually ) no applicable agency principles applicable.

Banks and insurance providers are intertwined at a different level legally.

The distinction becomes abundantly clear when you start litigating at a high level and the underwriters, insurers and banks break ranks to argue agency principles.

You’re right about no rego/no wof being irrelevant for a bike blown over by the wind. There’s no casual link between wind and wof therefore no ability to exclude liability. The insurer should pay.

[caspernz]

If the damage was not a result of failure or defect of a warrant-able component they will have a hard time getting out of the claim. This was determined years ago by the insurance ombudsman.

What he said, provided you've got comprehensive insurance.

[Oscar]

No it’s not.

Banks and insurance companies are in an agency relationship, as well as being governed by financial services licensing requirements. And an Ombudsman or two.

Bike dealers buy and sell bikes, oil and helmets on a wholesale/retail basis with ( usually ) no applicable agency principles applicable.

Banks and insurance providers are intertwined at a different level legally.

The distinction becomes abundantly clear when you start litigating at a high level and the underwriters, insurers and banks break ranks to argue agency principles.

You’re right about no rego/no wof being irrelevant for a bike blown over by the wind. There’s no casual link between wind and wof therefore no ability to exclude liability. The insurer should pay.

Yes, banks sell insurance products by way of an agency.
Pretty much the same way as retailers like Star, Kiwibike Insurance and travel agents sell insurance.
A good example of this is to be found here: https://www.westpac.co.nz/insurance/house/
"Westpac Insurance" is underwritten by IAG (think State, NZI and AMI), and the bank goes to great pains to make sure you know it:
None of Westpac Banking Corporation ABN 33 007 457 141, Westpac, or any member of the Westpac group of companies guarantee the obligations of, or any products issued by IAG.
Westpac will receive commission payments as a result of the arrangement of IAG policies. For IAG's financial strength rating please click here.

There is no other connection between Westpac and IAG apart from one selling the others products.

So you can "litigate at a high level" (whatever the fuck that means) all you like, but the banks have a banking licence and an ombudsman and the insurers have a different ombudsman and licence.
There is nothing special about the relationship between banks and insurers apart from the way that banks have been criticised for their attitude to selling the stuff.

And this is pretty much the same way a motorcycle dealers have agency deals with manufacturers.
Ask any dealer how formal their agreement is.

An agency agreement is as old as commerce.
It just outlines the way each party will conduct their part.

It says I will sell your product

[Ginge09]

Yes it is.......Exactly as motorcycle dealers have agency deals with manufacturers. Ask any dealer how formal their agreement is.

Yes, but you were talking helmets and oil through a bike dealer.

Bike manufacturers against a bike dealer is a different agency relationship again depending on how much manufacturer finance the dealer has at stake against the bike.

It comes down to the dollar value of the product. A comprehensive bike insurance policy with a ( say ) $55k risk, a new bike at $25k risk, a helmet at $500 risk. Oil at $40 risk.

The more the risk, the deeper the agency. As Henry points out with the earthquake scenario.

I think we agree on the OP’s bike though.

[Oscar]

Yes, but you were talking helmets and oil through a bike dealer.

Bike manufacturers against a bike dealer is a different agency relationship again depending on how much manufacturer finance the dealer has at stake against the bike.

It comes down to the dollar value of the product. A comprehensive bike insurance policy with a ( say ) $55k risk, a new bike at $25k risk, a helmet at $500 risk. Oil at $40 risk.

The more the risk, the deeper the agency. As Henry points out with the earthquake scenario.

I think we agree on the OP’s bike though.

Oh please. There is no conspiracy. No "deep agency".
I have no idea how this relates to "the earthquake scenario", apart from the fact that once it was sold, the banks treat their customers like most other insurance agents (like travel agents and specialist insurance agencies). If you want a moral to the story, it is only don't buy this kind of cover (house & contents, life, health) etc from a reseller (i.e. agent), buy it from an independent broker or direct.
The dollar value of an insurance policy to the bank is not the sum insured, it is about 20% of the overall premium.

An agency agreement simply means an exclusive or semi exclusive agreement to sell a particular product.

You are conflating the situation into something that it is not.
The fact is that there is no relationship between banks and insurers other than the sale and sometimes service of a particular product.
Just like the relationship between bike dealers and importers.