Terms and Conditions
Duty of Disclosure
You must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding: a) whether to accept your proposal and b) if so, on what terms.
Examples of what you must tell us include: a) anything that increases the risk of a claim, b) any criminal offences or convictions (you should not disclose any information about offences that can be withheld under the Criminal Records (Clean Slate Act) 2004) c) any previous insurance claims, d) any refusal by another insurance to insure you on standard terms, or continue to insure you on standard terms. You must also tell us this every time this policy renews, or when you make any changes to it. If you fail to do this, your insurer may avoid the policy retrospectively and you will have no insurance at all. When in doubt, disclose. All information will be treated confidentially. Please contact us (Kiwibike) 0800 629 253 to advise any material facts and we will advise the insurer accordingly.
Insurers Financial Rating and Declaration
Star Underwriting Agents Ltd T/A Star Insurance for and on behalf of Berkshire Hathaway
Berkshire Hathaway Specialty Insurance Company (incorporated in Nebraska, USA) (“BHSI”) is the licensed insurer of all Star Insurance Ltd (“Star”) policies incepted from 1st July 2022 or renewed from 1st August 2022. BHSI is part of Berkshire Hathaway’s National Indemnity group of insurance companies and is authorised by the Reserve Bank of New Zealand to carry on general insurance business in New Zealand. The New Zealand Company Number of BHSI is 5737531 and its Financial Service Provider number is 445946. BHSI has been given an A++ insurer financial strength rating by A.M. Best (a full description of the A.M. Best rating scale is available on the A.M Best website) and an AA+ insurer financial strength rating by Standard & Poor’s (a full description of the Standard & Poor’s rating scale is available on the Standard & Poor’s website). Star acts as an agent of BHSI as authorised under the terms of an Underwriting Management Agreement established between the two companies. Star does not act as your agent nor does Star act as an insurance broker or insurance advisor.
PROTECTA insurance New Zealand Limited is underwritten by Virginia Surety Company
This insurance policy is underwritten by Virginia Surety Company, Inc. (NZ Company No 920 655) of Unit 3, Level 2, 73 Manchester Street, Christchurch, New Zealand.
Virginia Surety Company, Inc. has an A (Excellent) Financial Strength Rating given by A.M. Best Company. As at the date of this Renewal Notice, A.M. Best Company is an approved rating agency under section 62 of the Insurance (Prudential Supervision) Act 2010. The rating scale is:
Secure Vulnerable
A++, A+ (Superior) B, B- (Fair) D (Poor)
A, A- (Excellent) C++, C+ (Marginal) E (Under Regulatory Supervision)
B++, B+ (Good) C, C- (Weak) F (In Liquidation)
S (Suspended)
Personal Information
I/We understand that the site requests personal information about me/us which is held by Kiwibike Insurance Ltd, Star underwriting Agents Ltd, Vero Insurance New Zealand Ltd and / or Protecta Insurance New Zealand Limited, to evaluate my/our application for insurance. Failure to provide the information sought may result in my/our application declined or my/our insurance being void from the beginning
When applying for insurance I/We authorise Kiwibike Insurance Ltd, Star Underwriting Agents Ltd, Vero Insurance New Zealand, Protecta Insurance New Zealand Limited and Allianz Australia Insurance Limited Limited to;
a) Check details against the Insurance Claims Register and to place information on the Insurance Claims Register which other insurers can access:
b) Disclose personal information to other members of the insurance industry and/or parties who have a financial interest in the subject matter of this insurance
c) Obtain personal information held by any other party regarding my/our existing and previous insurances.
The Privacy Act 1993 requires us to inform you that the information collected on this site is required for your insurance and your obligations are stated in the above declaration. You do have certain rights of access to, and correction of, this information held by Kiwibike Insurance Ltd, Star underwriting Agents Ltd, Vero New Zealand Limited and Protecta Insurance Limited and the Insurance Claims Register.
Fees and Charges
The monthly Premium option incurs additional fees and interest as the Premium will be financed with our sister company Kiwi Premium Funding Ltd. Administration fee $35 & interest 10% (flat rate).
All prices are quoted/charged in New Zealand Dollars and include all levies, commissions, brokerage fees and GST. Brokerage fees - minimum charge of $25 + GST
Where there is a total loss which is covered by this policy, the insurer is entitled to deduct the difference between the annual premium and the amount of premium paid by instalments.
Complaints
We strive at all times to provide you with an excellent service. If you are unhappy with our service for any reason, please contact us by email help@kiwibike.co.nz.
We will address your complaint as quickly as possible. Once we have completed an investigation of your concerns we will respond in writing.
If you are not satisfied with the outcome then you can take your complaint to the FSCL. The webb address is http://www.fscl.org.nz/
If you are unhappy with any Insurance product Brokered by us, we will direct your complaint to the insurer concerend. If you require their contact details, please contact us and we will be happy to assist.
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