ICIB Brokerweb Insurance & Risk Advisory

With supply chain volatility and soaring material costs, a standard 5% Contract Works insurance buffer is no longer enough to protect your build from being dangerously underinsured.

Waiting until the slab is poured to secure coverage can also backfire, leading to steep late penalties or outright denials from insurers.

Read our latest article in New Zealand Certified Builders Association's Inhouse magazine to discover practical strategies to shield your project, adjust your sub-limits, and protect your business from day one.

https://issuu.com/certifiedbuilders/docs/nzcb_inhouse_june_2026/47

Be upfront on your application form. Not declaring any current (pre-existing) medical conditions, or what might be considered dangerous hobbies/pastimes or habits, could void your policy and prevent you from receiving a payout.

If your house insurance is coming up for renewal it's a good time to check your sum insured.

The Cordell Sum Sure calculator is a fantastic, user-friendly tool designed to help you estimate the reconstruction cost of your property. By analysing up-to-date building industry data against your specific address, it takes the guesswork out of professional fees, demolition costs, and local material prices.

Ensuring you have the right level of cover gives you peace of mind that your home is fully protected should the unexpected happen.

https://sumsure.cotality.com/ #/products/8/profiles/219

We are having a fantastic time exhibiting at the New Zealand Certified Builders Association Conference at the New Zealand International Convention Centre in Auckland this week.

It has been great connecting face-to-face with so many NZCB members from across the country and talking about some of the issues the industry is currently facing, that we can support with insurance.

If you are at the event, please make sure to stop by our stand to say hello to the team!

As the weather starts to cool and we look to heating solutions to keep us warm it is important to reduce your risk of fire.

Taking a few moments to check your electric heaters, service your gas appliances, and properly clear your fireplace can save lives.

Here's a handy list of things to look out for from Fire and Emergency NZ - https://www.fireandemergency.nz/home-fire-safety/home-fire-hazards/indoor-fires-and-heaters/

June is a popular month for insurance policy renewals.

Your broker will work with you to go through the renewal process as well as the paperwork.

For businesses, it is timely to think about how your staffing levels have shifted, if there are any big operational changes you have made, and what assets you may have purchased as key factors that affect your insurance cover. As the costs of replacing or repairing you assets are likely to have increased you should also consider an uplift in your cover levels should you need to make a claim.

We are delighted to have the opportunity to join the FreshChoice team at their conference in Melbourne this week.

Kathy Pascoe has been busy chatting to franchise owners about some of the key issues they face as supermarket owners, with a key focus on looking after their life and health.

Whilst it is important to cover the physical assets of your business, you can't run one without your most important asset - your people!

Landslide claims in New Zealand have skyrocketed, with the Natural Hazards Commission Toka Tū Ake (NHC) recording nearly 13,000 claims over the last five years—more than any other natural hazard.

While the scheme covers up to $300,000 (plus GST) for home damage, strict statutory limits on land repair mean many hillside homeowners could face massive out-of-pocket expenses for major earthworks or failed boundary walls.

With private insurers rarely offering land-specific cover, Kiwi property owners and brokers are being urged to closely check their policies and spot early warning signs of slope instability before the next big storm hits.

If you have any concerns about your property and cover, please chat to your ICIB broker.

Our insurer partner AIA NZ has released their latest Claims Compass.

Cancer was one of the biggest medical issues they paid out for in 2025 with 43% of life claims and 20% of health claims relating to the disease.

The majority of all claims were for those in the 50-59 age group, reflecting the heightened probability of injury or illness disrupting earning potential during these years.

Read the full stats here - https://documents.aia.co.nz/claims-compass-3

Huge thanks to the team at Fidelity Life for hosting an incredible quiz night this week in Christchurch.

We may not have been the winning team on the questions but we think our outfits were pretty top notch!