Digital Threats: Here’s Why You Probably Need Cyber Insurance

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Cyber insurance is important in the digital age.

The internet is ubiquitous these days. So much of our social lives, business operations, commerce, and other interactions happens on the world wide web. It follows that for most people and organisations, keeping yourself safe against cybercrime is just as important as protecting your physical assets. However, it is often overlooked and downplayed.

Cyber insurance is protection against loss due to the various types of cyberattacks. There are many things that a business can lose online which are important, including intangible assets like intellectual property rights or data. Our world is increasingly modern and connected over the internet. Any company, organisation, or individual that is not taking measures to protect their online activities is putting themselves at risk.

Who is at risk?

A rundown of all of the cybersecurity risks that exist would take much more than a single blog post. These are some real examples of how cyber threats can cause harm.

  • Cyber Extortion – CERT recently reported that companies in the financial sector had received extortion emails threatening denial-of-service attacks.[1] Common to businesses, these attacks restrict or impair legitimate use of a network or system. Often this is done by “flooding” the system with traffic.
  • Social Engineering – There have also been reports of social engineering attacks taking advantage of the fear surrounding COVID-19. Social engineering refers to any attempt to get people to give up sensitive information via emails and other forms of direct messaging. It’s psychology mixed with cybercrime, and preys on people’s trust. Messages asking for donations or offering information should you click a link should not be trusted unless they can be solidly verified as coming from an official source. Social engineering can also take the form of cyber criminals obtaining information and then sending fake invoices with their own bank details, stealing revenue from companies.
  • Malware – Link clicking, as mentioned above, can allow the download of malware. This is malicious software that can make its way into a computer or system via an errant click or an infected drive.
  • Data breaches – These are of major concern to companies and organisations which store the data of their customers, clients, or patients. In 2019, the Ministry of Health reported unauthorised intrusion to the digital information systems of Tū Ora Compass Health.[2] An attack like this can cause huge mistrust and have very real consequences for both an organisation and the people it serves.

Take a look at few other examples of businesses who could be vulnerable to cyber attacks:

  • Car rental services. These are open to cyber attacks due to their reliance on apps, online booking systems, and other online communications.
  • Restaurants or cafes. Hospitality establishments like these are highly dependent on Eftpos machines, making them vulnerable.
  • Dairy industry and farmers can be targeted via the logistics software they use. They may also have data in cloud storage.
  • Brick-and-mortar retail stores depend on the internet for their digital transactions.
  • Online stores could fall prey to a denial-of-service attack, theft of customers’ details, and other cyber threats. Operating entirely online makes them extremely vulnerable. as an issue with the website would take down all of their sales.

The above are just a few examples of the ways that cybercrime can affect your company. Cybercriminals are creative, and there are always new things to look out for—that’s why it’s important to train staff in safe practices, use relevant software tools to protect your systems, and consult with cybersecurity experts if possible. It’s also important to insure against cyberattacks.

Many business owners consider cyber insurance to be excessive, but the internet is a weak point (as well as an extremely useful tool) for just about anyone in the digital age.

How cyber insurance covers your business

One of the biggest worries regarding cybersecurity is data breaches. Companies and organisations are responsible for the safe storage of client or customer data. This could mean credit card numbers, medical records, passport information, IRD numbers, and other personal details. Whether that’s stored on the cloud or on your own servers, it is vulnerable to attack through hacking, malware, and carelessness with login information.

A new Privacy Bill that is expected to become law in November 2020[3] will hold businesses to closer account for privacy breaches, meaning that robust cybersecurity measures and insurance will be even more necessary. The changes to the law will make it mandatory to report breaches to both the people affected and the Office of the Privacy Commissioner. Foreign laws can also affect Kiwi businesses—such as the California Consumer Privacy Act which became effective in January 2020.[4] It applies to anyone storing data of Californian residents, domestic or foreign. It says that Californians must have complete access to and control over any data stored, and also imposes heavy penalties for data breaches and noncompliance.

Cyber insurance protects against:
  • Liabilities that arise from data protection laws, management of personal data, and consequences of losing information.
  • Financial loss related to other cybercrime. This can include loss of business income, forensic costs for investigations into the event, costs to restore a damaged network or replicate data.
  • Public relations costs to minimise the fallout.

Cyber policies differ—it’s important to ensure that you have one that covers what you want it to.

Cyber insurance for businesses is a specialised field and one that can be difficult to grasp entirely for a busy business owner. Using a mortgage broker like Runacres Insurance with experience in the field can save time in the short term and prevent major losses down the road.

Get a quote or call the Runacres team to discuss the cyber insurance which would best suit your business. As experienced Kiwi insurance professionals and members of the NZbrokers group, we can advise you on the best options for the best outcomes.

[1] https://www.cert.govt.nz/individuals/alerts/financial-sector-targeted-in-blackmail-campaign/

[2] https://www.stuff.co.nz/dominion-post/news/116318497/up-to-1-million-new-zealand-patients-data-breached-in-criminal-cyber-hack

[3] https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_77618/privacy-bill

[4] https://oag.ca.gov/privacy/ccpa

Protect Your Woodwork Joinery Sector Business With Tailored Insurance

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Joinery can be a risky business.

Timber joinery is a specialised industry, providing critical windows and doors, flooring, cabinetry and much more for buildings and homes across New Zealand. Although it often flies under the radar, the joinery sector holds an important place in the world of both domestic and commercial construction. Producing quality timber joinery is no simple task, requiring specialised machinery and woodworking tools as well as human skill and craftsmanship.

Risks associated with joinery

Making timber joinery involves an array of woodworking practices and equipment. As in any such setting, there are risks involved that can be mitigated with the use of safety equipment, training, and safe conduct. The primary concerns for anyone working in joinery include:

● Fire. In a workshop situation, fire is a primary risk due to the machinery and electronics in close quarters with a lot of wood (fuel). Insurers receive many fire-related claims each year from this industry.
● Workplace injury. This is a concern for anyone in joinery or similar industries. Making joinery involves the use of complex machinery, tools, and equipment. While safety measures greatly reduce the risks, no person or machine is infallible.
● Burglary. This is a risk that just about any person or company takes on when they own property, and woodworking equipment is costly and time-consuming to replace.

Insurance options for the joinery sector

Businesses will find they need a combination of different covers to be, well, covered. These are some of the most important insurances for woodworking joinery companies.

Liability

While ACC in New Zealand does cover the majority of workplace injury claims, there are some cases in which an employee’s injury can incur costs to a business. For example, if there is a serious workplace incident the business as a whole may be required to shut down for several days resulting in loss of revenue, due to an OSH investigation. In these cases, having a relevant insurance policy to pay out the loss is a huge relief to business owners, as well as the potential day-to-day liabilities of employing staff and running a business.

Liability insurance will also cover any costs accrued by employees or products causing third-party damage. This is further protection for joinery businesses against the expenses that come with accidents of many kinds.

Buildings, Plant and Equipment, and Stock

It’s important for any company to ensure their assets are accounted for with adequate insurance cover in case of damage or destruction—by fire, as an example. This includes any premises, all equipment and machinery, and all other contents such as any stock kept at the place of business. For a woodworking company, stock may mean crucial supplies of wood, hardware, and other components.

Business Interruption

A fantastic safety net for any business, this cover will minimise the financial impact of any insured interruption to your usual operations through a variety of circumstances outside of your control. If, for example, you did experience a workshop fire, business interruption insurance would mean that you would be covered for loss of income or temporary premises.

Motor Vehicle

Company vehicles are essential in many industries. Woodworking businesses rely on vehicles to transport materials and finished products—among other things—making commercial vehicle insurance just as important as policies for personal vehicles. Any business with vehicles as a crucial part of operations should have cover that will pay for damage or theft as well as third-party cover in case an employee is at fault in an accident.

The insurance broker advantage

As experienced insurance brokers and members of the NZbrokers national group, Runacres can find and tailor relevant insurance packages for specialist businesses including those in the joinery trade. No insurance solution fits everyone, a fact of which our team is well aware. We use local knowledge, industry experience and our connections with insurance providers large and small to ensure that our clients are getting cover that fits their needs.

For woodworking and joinery businesses, having the best insurance cover can mean the difference between shutting down when struck by difficulties and coming out the other side intact. Runacres Insurance has the expertise in this specialist sector to ensure that our clients’ stock, tools, machinery, and business continuity are protected. Get in touch with the team to discuss a package that will see your joinery business through the unexpected.

Mobile Plant Cover Protects Your Construction Business—Here’s How

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The “what” and “why” of mobile plant insurance

From huge and heavy cranes to simple elevated work platforms or humble tractors, mobile plant equipment and machinery is a crucial part of the work a construction company or farming business does. If it breaks down, is damaged, or is stolen, operations can grind to a halt. This costs a lot of money beyond just the price of replacing the equipment—which itself is very expensive.

The ability to finish contracts on time and on budget is crucial to any construction company. For those in agriculture, timetables can be at the whim of mother nature and having all hands on deck with equipment ready to go is vital for optimum profit. Being prepared for any eventuality or bump in the road will mean that you can carry on and get the job done.

What is mobile plant insurance?

Mobile plant cover is a type of insurance available to civil construction businesses and other relevant industries like agriculture. The term “mobile plant” refers to any plant (an onsite/transportable piece of equipment) with some form of self-propulsion which is usually controlled by a human operator—and one that is commonly taken off the company’s own property to carry out work on other job sites. This includes earthmoving machinery, cranes, hoists, forklifts, compactors, agricultural equipment, and more.

Policies are tailored specifically to cover mobile plant-related activity in just about any situation. A comprehensive cover will protect you against damage to your plant, as well as legal liabilities to third parties, whilst accounting for the many different activities and risks undertaken by your hardworking equipment.

For smart construction companies, mobile plant insurance is a vital piece of the insurance puzzle that will help ensure your projects and contracts can continue to completion, safeguarding your profit and your reputation. For farmers and growers, mobile plant insurance could mean the difference between getting a crop in on time and missing the window for harvest due to equipment failure.

What can it cover?

Good mobile plant insurance can be tailored to provide protection in a range of situations and for all kinds of machinery. Not only can it cover mobile plant and equipment that the company owns, but also that which has been rented or hired—offering peace of mind in both scenarios. It includes assets ranging from general work vehicles to the most sizable of machinery such as cranes and diggers.

Policies can also be tailored to cover a range of scenarios including breakdown, theft, damage, road incidents, and more. Good mobile plant insurance applies on any job site and also in transit, meaning that owners and renters of equipment are covered no matter where they are.

Many policies will not only protect against costs directly associated with damage to the equipment, but can also be extended to provide loss of use cover whilst repairs are underway.

How to get the best mobile plant cover

It can be tricky to think of all the possible risks associated with mobile plant and equipment. It’s even harder for your typical business owner to discern where to go for the best, most affordable, and most relevant insurance options. As the nation’s housing shortage necessitates quick and quality builds, construction companies are busier than ever and the ability to deliver on schedule is hugely important. The right cover will safeguard your reputation and enable quality, timely work even when something goes wrong with your equipment, wherever it might be.

Insurance brokers are professionals trained in locating and recommending insurance options that best fit the needs of their clients. The team at Runacres Insurance is experienced in risk assessment and knowledgeable about many specialist industries. This allows them to find and tailor the very best mobile plant insurance to safeguard the valuable equipment that drives your business.

As award-winning brokers operating throughout the nation and backed by the power of the NZbrokers body, we can offer expertise that will see contractors and farmers all over New Zealand more secure. One size does not fit all when it comes to insurance cover, so get in touch to find out how you can best protect your productivity.

Why Do I Need Life Insurance For My Business?

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How life insurance can help business owners plan for the unexpected

Life insurance is often considered a very personal matter, but it matters in the business arena too. For business owners, particularly those working with partners who also have vested interest in the company, life insurance and other related covers like key person insurance and debt protection are crucial.

Comprehensive and relevant life insurance will also allow you to protect your family financially should something happen to you that will affect the running of your business. Take a look at the following points to discover what the right insurance policies can do for you as a business owner.

Your business partner will be protected

Business partners will often take out life insurance policies on each other. Often, the money in conjunction with a written agreement will ensure that the surviving partner can buy out the other’s shares and keep going. Being in business together makes people financially interdependent—it’s a good idea to carefully plan for the possibility of one partner dying unexpectedly.

A robust policy is a safeguard for your business partner and any employees relying on your company for their income. It will protect the livelihood of those who have helped you build your business.

Your family will get by

If your family depends on the income generated from your business, you will want it to continue running effectively in any circumstance. Having policies in place to facilitate this will ensure they can be taken care of—and if they sell your share in the business, they can get the best price possible.

Debt protection cover is also very important in protecting your family and loved ones in the case of your death, incapacity, or disablement. It ensures that debt can be repaid, removing personal liability from you and your estate. Click here to read – Why do you need Personal Life Insurance

You can guard against the loss of key people

Key person insurance is a helpful product that makes sure your business can run when particular people are out of action. Most companies—particularly small businesses—have those individuals who are crucial to operations. Would it be bad news for the future of your company if you, a partner, or an experienced employee were to suddenly become unable to perform their responsibilities? If the answer to that is yes, you may need to consider key person insurance.

Working with an insurance broker is the best and easiest way to secure the right insurance for your specific circumstances and needs. Working independently from insurance companies, they are the experts in finding policies that fit an individual, saving clients time and often cutting overall costs by helping them to determine which insurances are necessary and most beneficial through careful risk analysis.

The Runacres Insurance team are experienced in business-related insurance. Get a quote or give us a call to discuss how we can help you prepare.

Do I Need Life Insurance? Probably—Here’s Why

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Why buy life insurance?

To think about your own death is generally considered a little morbid; it’s a subject that many people—especially young and healthy ones—prefer to avoid. However, planning for all eventualities is important. Life insurance is a key component of good financial management. Even the healthiest of people can run into unexpected circumstances: imagine a man in his forties who eats a plant-based diet and runs every day being handed a cancer diagnosis or being hit by a truck on a pedestrian crossing. It can happen, and it does.

The right life insurance allows things to run smoothly for your loved ones should you pass away. There are many options out there being sold to Kiwis, but each situation is unique: different risks, different goals, and different levels of coverage desired. For this reason, an experienced insurance broker is a huge asset. Click here to read – Why Do you Need Life Insurance For Business

Here’s how life insurance and related insurances can help you plan for all possibilities:

Your dependents will be looked after

Number one on the list of people to consider when planning for an unexpected death are children or other dependents—those who rely on you to provide for them. Most parents and caregivers are motivated to ensure that those in their care are well looked after when they pass on. Life insurance allows you to rest assured that dependents will have enough to live comfortably, and depending on the policy can even set them up very well for future large expenses like tertiary education.

For a lot of clients, making sure their kids will be financially secure with or without them is a primary reason for purchasing life insurance. However, it’s not the only one; this type of cover is also important for those without dependents to consider.

Your spouse will have time to adjust

Losing a husband or wife is traumatic, devastating, and disruptive. Doing it while faced with financial worries due to the loss of their income adds another layer of difficulty to the loss.
Life insurance offers a buffer for the surviving spouse, replacing the income of their deceased partner to reduce financial pressure at a vulnerable time. With the right policy to take up some of your financial responsibility for a while, your spouse or significant other will have time to get used to their new situation without having to worry about living costs.

Your debts will be paid

Losing income is one thing; being saddled with sole responsibility for a large debt is another. Life insurance can pay off shared debts—often this means a mortgage—to reduce living costs for those left behind and take away a financial burden. Paying off any debts for which they are jointly responsible is a fantastic gift that you can leave your loved ones.

Your final expenses will not cost your loved ones

Dying can be a pricey business. Funerals tend to run too many thousands of dollars depending on the type of celebration you or your family would like to hold. Coffins are expensive, burial is expensive, and so are the details like catering and flowers. Although New Zealand has long since done away with “death duties”, there are also things like probate and estate administration costs to think about. A friend or family member’s death is difficult enough to get through without the burden of paying for a funeral and other end-of-life expenses!

Runacres Insurance is a team of New Zealand-based insurance brokers who are dedicated to finding the best cover for Kiwis. Backed by NZBrokers, we offer quality advice and guidance to anyone seeking insurance—from life insurance and other personal covers to business insurance in specialist industries. Proud recipients of many industry awards and supporters of local sports teams and creative organisations, the Runacres team are locals who support other locals. And we pride ourselves on providing a personalised and highly customised insurance and risk service. Let us help you find peace of mind.

Underinsurance: Is Your Sum Insured Up To Date?

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Is your sum insured enough for a fresh start?

Imagine that the worst happened to your business: your premises burnt to the ground, were ravaged by an earthquake, or were otherwise severely damaged and in need of replacement. Most companies pay for insurance to safeguard their operations against this very scenario. Understandably, it would be pouring salt on the wound for them to find out that their policy does not nearly cover the cost of construction.

This is underinsurance: when an insured individual or business fails to update its policies to keep them in line with property and/or asset values.

The dangers of underinsurance

Properties are required to be insured up to an agreed amount so that the insurer can calculate an appropriate premium for the amount they would be required to pay in the event of a rebuild. It’s important that the sum insured reflects the actual cost of building a new facility. If it doesn’t, your or your business will be left with the rest of the bill in what will already undoubtedly be a very difficult time.

While insuring your property for less than the amount it would actually cost to rebuild may save a little in premiums, this false economy can have disastrous consequences. The difference in your regular payments will likely be very small. What’s more, you can budget for premiums. It’s much more difficult to prepare for what could be a bill of tens or hundreds of thousands of dollars all at once. New Zealand has shown that it is no stranger to natural disasters in the past decade—from mega earthquakes to volcanic eruptions and tornadoes—so underinsurance is a very real concern.

Even if your building only requires a partial rebuild, underinsurance can sting. “Pro rata condition of average” is something included in many insurance policies, which means the sum paid out—even if only part of the total sum insured, to replace or repair part of the property—will be reduced in proportion to the value of the total sum insured. For example, imagine that your premises were insured for $800,000 but would cost a million dollars to totally rebuild. If you made a claim for a partial rebuild costing $500,000, you would only get $400,000 as you are underinsured by 20 percent. In New Zealand, the Insurance Law Reform Act of 1985 means that insurers must disclose where pro rata condition of average is applied—but it is a technical term that many purchasers may not fully understand.

How do I know if I’m underinsured, and how do I rectify it?

The key thing to remember when deciding on your sum insured is that it should be based on rebuild value and not market value. That means you aren’t insuring for the amount your property would sell for (as this would include the land) but the amount of money it would cost to rebuild the premises entirely. This should take into account structures like retaining walls, pools, fences, and any possible demolition costs.

Understandably, to come up with a sum taking all of that into account is an overwhelming prospect for many business and property owners. Professionals such as quantity surveyors can give the most accurate estimates of rebuild costs, but it is important to check that they are accounting for all the necessary factors and provide as much information as possible. They must be knowledgeable of local labour and supply costs, and be aware of any geographical features and considerations which could impact building budgets. Insurance brokers can help you arrange an accurate valuation from a suitably qualified professional.

Ever-changing construction costs and their impact on insurance

Due to inflation and other cost increases, the sum insured of a property can become outdated reasonably fast. And for busy business owners and employees, updating insurance policies is a tedious task that often gets forgotten.

In New Zealand where housing is in hot demand, building costs can rise sharply. It is important to regularly check your sums insured to make sure that they accurately reflect projected rebuild costs. According to Stats NZ[i], the value of non-residential building consents was up 4.8 percent from 2019, influenced by an increase in non-residential construction prices of 5.4 percent. Those with the highest construction values included education buildings, offices, public transport buildings, shops, restaurants, and bars. Building costs have risen[ii] alongside this, particularly in Auckland. In a report by Deloitte[iii] using statistics collected from 2009 to 2017, a steady increase was shown in the costs of materials, labour, and other contributors.

The advantage of a broker

An insurance broker is not only helpful when it comes to finding the right cover for your business. They can also help you with risk management, valuations, and claims alongside ensuring your policies are up-to-date and represent the best option for you or your business. This includes arranging regular reviews of your insurance programme, to ensure all your risks are covered where possible

Runacres insurance can help you to find and manage insurance for you and your business. Take that task off your to-do list and leave it to the experts! Our team, located in offices across the country, is dedicated to helping people and businesses maximise their insurance dollars. If you’re unsure whether your business premises are fully covered should you need to make a claim, get in touch with Runacres. We’ll help you to assess your cover and make sure you’re prepared for anything that might come your way.

[i] https://www.stats.govt.nz/information-releases/building-consents-issued-january-2020

[ii] https://www.stats.govt.nz/news/construction-costs-rents-and-rates-rise

[iii] https://www2.deloitte.com/content/dam/Deloitte/nz/Documents/Economics/nz-en-DAE-Fletcher-cost-of-residential-housing-development.pdf

The Benefits of Using an Insurance Broker

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Insurance made easier and more convenient.

Finding insurance that works best for your specific set of circumstances and needs can be a tall order. Have you ever shopped around for the best company to go with, the right policies to cover any eventuality, and a way to combine your different covers for the most cost-effective solution? If so, you’ll know how tricky it can be. Navigating this vast industry full of legalities is difficult for anyone who doesn’t work in the field.

Thankfully, no-one needs to undertake the search for insurance without expert help—that’s the role of brokers. A good insurance broker works independently from insurance companies and on behalf of their clients to find the best possible cover. With this comes an array of benefits, making using a broker the best option for any insurance seeker. We’ve laid them out below; read on to get an idea of what you could be missing out on when you go it alone!

The best cover
One of the primary objectives of an insurance broker is to arrange the best possible cover for clients, in order to meet their specific needs and ensure they can claim when needed most. By contrast, finding insurance on your own can easily result in either under or over insurance; neither of which is a desired outcome.

This is why many turn to brokers for guidance. Brokers are the experts in discovering what their clients really need, and accurately assessing risk to determine what’s worth the expense and what may be superfluous. Using a good broker therefore means you are getting both the best value and the right cover for your situation.

Expert advice from the professionals
An experienced broker is a wealth of knowledge and an invaluable asset for anyone in the market for insurance. The insurance industry is far-reaching and complex, presenting many pitfalls to the unsuspecting consumer. A broker can navigate those murky waters and come up with the very best options for each client. It’s no easy task, considering that each person, family, or organisation has unique needs for their insurance coverage. Great brokers will be able to assess risk and advise a client on which insurance types would be relevant and valuable.

Many insurance brokers specialise in a specific sector of the insurance industry or several related sectors. This allows them to provide even more specialised and targeted advice and guidance to clients. Just as you would do for any service provider, it’s important to find a broker that fits your requirements and to check their professional credentials—such as industry awards and affiliations with professional bodies like the Insurance Brokers Association of New Zealand.

An array of options
Most people seeking insurance will compare a few options from the bigger insurance companies—the most diligent may even check out four or five before making a decision. This can, however, be a tedious and confusing task for clients to undertake on their own; and they will not have access the same options as a broker. Brokers also have the knowledge required to sift through the possibilities efficiently, to find the ones that will work best for any situation. Experience and expertise mean that a broker can compare and consider far more possibilities than your average insurance-seeking joe!

While brokers do work with the big insurance companies, they may also have access to policies and insurers that are not well known to the public. This opens up the options beyond the obvious and is especially useful for anyone with unique insurance needs that may be better served by a lesser-known provider.

Time saved
As we mentioned in the previous section, finding the perfect insurance policy or policies is time-consuming and tedious. Using a broker vastly cuts down on hours spent finding and organising your insurance, as their job is to do the hard yards for you. For individuals and businesses alike, time is often money—and taking advantage of a broker saves both.

Convenience
The role of a broker goes beyond just finding the right insurance for a person, family, or business. They will also facilitate and manage the process of signing up for cover, as well as advocating on the clients’ behalf for any claims. Generally, making a claim through a broker is a much faster and easier experience than dealing directly with the insurance provider.

At the heart of it, an insurance broker’s job is to find their clients comprehensive insurance solutions that fit their needs and budget. Their expertise means they can hunt out the best and most affordable options to suit the situation, including those which might be difficult to find for those outside the industry. They also do the legwork, saving time and making the entire process much quicker and more convenient for their clients.

Runacres Insurance is an award-winning team of brokers serving clients across New Zealand. As members of NZbrokers, the country’s largest insurance broking collective, we draw on a huge pool of experience while making the most of local knowledge to find the absolute best insurance solutions for our clients. We also support our communities through sponsorships of various sports teams and arts initiatives—people are important to us, and that’s why we do what we do.

Contact the Runacres team today for advice on business or personal insurance. We’d love to demonstrate the benefits of using an insurance broker with our friendly, professional service!

Runacres Insurance – the winner of ANZIIF Award 2019

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Runacres Insurance has won the ANZIIF Award 2019 in the category of Small-Medium Broking Company of the Year

Runacres Insurance are proud to announce that we have won the 2019 ANZIIF Small-Medium Broking Company of the Year award. This is the second time that Runacres has been awarded Small/Medium sized Brokerage of the year.

“Since winning this category in 2015 Runacres has continued to evolve and I am thrilled to lead such exciting, experienced & talented teams, based in Christchurch, Greymouth and here in Auckland,” said David Crick, Managing Director.

Crick further commented “Our commitment to excellent client service since 2015 has seen us invest significantly by increasing our number of staff over 50% to 42 staff, investing significantly in IT infrastructure, organic growth via our sales teams & a further acquisition in Auckland. A key component in assisting Runacres to attract & retain key talent in the Broking Industry has been training via ANZIIF which has in turn contributed to our growth and service delivery strategy.”

A word from ANZIIF

This year’s winner Runacres Insurance submitted a strong case for consideration. The organisation has streamlined its business to produce successful results of a range of targeted campaigns.

Judges recognised the organisation’s ability to maintain a consistently high client retention rate and deliver impeccable service to clients.

To address changes and potential risks in the industry, Runacres Insurance implemented a number of innovations including enhanced cyber security.

With strong financial results over a three-year period, the organisation has successfully increased revenue without impacting on its investment in people.

The judging panel commented Runacres Insurance for their serious approach towards professional development and their goal to have all staff qualified by 2021.

Runacres Insurance continue to add significant value to the New Zealand broking community with active roles in many organisations.

ANZIIF reveals winners of 2019 NZ Insurance Industry Awards

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has revealed the winners of this year’s New Zealand Insurance Industry Awards. The event, which was attended by 400 insurance professionals, celebrated the achievements of outstanding individuals and companies in the industry. Read more…

Watch the Award Acceptance Speech by David Crick

Awards Night Image Gallery

Runacres proudly supports local U12 rugby team

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Runacres proudly supports local U12 rugby team

Like many Kiwis, rugby is a part of our DNA here at Runacres. From grassroots, to provincial through to supporting our boys in black, we can’t help but get behind our nation’s favourite sport.

We believe though, that encouraging healthy and positive involvement with the sport starts by nurturing our youngest players. Giving youngsters in our community the opportunity to develop, learn, excel and build friendships through sport is something we’re glad to get behind. It’s in the clubrooms of local sports grounds that a lifelong love of sport is formed and where communities come together to connect through a shared enjoyment of the game.

Which is why we we’re proud to have sponsored Lyttelton Rugby Club’s Under 12 rugby team’s annual Titahi Bay trip.

More than a rugby match

The competition between Lyttelton Rugby Club and Norths Rugby Club (previously Titahi Bay Rugby Club) has a long history – 54 years in fact. Its story starts in a local bar in Lyttelton in 1965, where a waterside Norman (Skeeta) Bachop from the Lyttelton Rugby Club and a seaman Bill (Pincha) Martin from the Titahi Bay Rugby Club were discussing which club had the better under weight team, as both of these men coached in their respective clubs. After a couple more drinks it was decided that Skeeta would arrange for Lyttelton Rugby Club to send a team to play a team from Pincha’s Titahi Bay Rugby Club to settle this discussion.

More than half a century later, and the battle still goes on!

Importantly though, this is more than a friendly competition between two proud clubs. It’s a chance to help build confidence in young players as they spend time away from home, staying with a billet family. It pushes many players out of their comfort one, and so many of them return home with more life skills and confidence.

These young men are in good company. Many successful sportsmen have participated in this long-standing event, including former All Blacks Steven and Graham Bachop, Aaron and Nathan Mauger, Ben and Owen Franks, Jerry Collins and TJ Perenara, as well as golfer Michael Campbell.

To think this trip could play a part in the making of some future sports stars is an exciting prospect!

Instilling healthy values

Most of us are aware of the physical health benefits of playing sports from a young age – strength, coordination and fitness. But being involved in a team and club environment also brings with it other factors that are critical to the healthy development of our younger members of the community. Things like friendship, leadership, responsibility, accountability, self-esteem, perseverance, empathy and pride. These are all characteristics that the younger generation can call on as they continue to develop socially and cognitively, and begin to contribute in other ways to their communities.

Supporting our community

Lyttelton Rugby Club is a family-oriented club for both junior and senior players. Like most community organisations, it relies on the generosity of volunteers who give their time to help run the club, coach teams, support the club community and fundraise for trips such as this.

We know that sponsorship from businesses like ours goes a long way to ensuring that this trip, and other club initiatives, are possible for the club’s young players. As a Canterbury-based business with offices across New Zealand, supporting locals is a part of our business philosophy. Helping you protect whatever it is that matters most to you means you can focus on doing the things you love, free from the concern of financial burden should the unexpected happen. Click here to learn more about our products and services.

We’re looking forward to seeing these young players develop further, and who knows, perhaps we’ll see their names on the back of a black jersey one day.

Runacres acquires Primesure

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Runacres Insurance Limited have today announced the acquisition of Primesure Brokers.

Primesure management reached an agreement to partner with Runacres Insurance, who have been looking to bolster their growing Auckland footprint. This will positively impact Primesure clients, who will enjoy the improved experience provided by the national support and infrastructure of Runacres.

Discussing the announcement, Runacres Insurance Managing Director David Crick said, “Increasing our North Island footprint is one of our key strategic initiatives, being able to achieve this, whilst joining forces with a great team who share our client focus and attention is a real win.”

Primesure will retain and continue to operate under their brand, led by Cameron Hollis, currently a senior broker. Cameron will take over the Managing Director role with immediate effect. Tony Nicholl and Paul Blitvich remaining in the business to aid a smooth transition.

Tony Nicholl, previous Managing Director at Primesure commented: “This is a really exciting chapter for Primesure and we’re pleased to have found a like-minded business like Runacres to align with. When we started out 24 years ago, we couldn’t have anticipated being a part of a combined independent brokerage that will now service more than 9000 clients across New Zealand, something that we’re proud to leave as a legacy.

Read further media coverage in Insurance Business.

About Primesure

Primesure is a fire & general insurance brokerage operating out of West Auckland, with a Life and Health offering operating under the Primesure Financial Services banner. Founded in 1995 via a merger of two businesses, Paul Blitvich Insurance Brokers and Hope-Cross Nicholl Insurance Brokers, Primesure has cemented itself in the Auckland market over the last 24 years. The business supports 1750 clients, managing Gross Written Premium of $7.5 million.

 

About Runacres Insurance

We are an award-winning insurance brokerage with 35+ years’ experience delivering insurance solutions for clients. With offices located in Christchurch, Auckland and West Coast, our Runacres team are dedicated to protecting clients with the right insurance solutions.

As a member of NZbrokers, Runacres leverage the strength and power of a national group, while retaining a successful formula of local knowledge, local ownership and longstanding relationships. Runacres supports over 7500 clients, managing Gross Written Premium of over $40 million.