Largest NZ insurance broker, PIC, is exploiting the dire situation
You may wish to know of this exploitation by a firm which is supposed to be respected.
Largest NZ insurance broker, P.I.C, is exploiting and dealing underhandedly with their clients in the dire situation that New Zealanders are in by charging an APR of nearly 25% to pay monthly. This is outrageous and disgusting at a time when we all need to pull together.
My partner’s 25 year old business lost 100% of its income when the lockdown started. Most suppliers helped to try and keep her afloat either by reducing their charges by up to 66% or deferring payment so that she would be in a position to restart when the lockdown ended.
PIC, NZ largest insurance broker, was approached to allow a monthly payment of the insurance premium payable on 15 April 2020. They agreed and quoted an interest rate of 9% - high but not extortionate at this time. No mention was made of the fact that a finance company would be involved. Finance papers were then emailed for a company called Stockade Premium Funding Ltd showing an APR of 24.83% and a flat rate of 9.8%. There is no risk to Stockade Premium Funding Ltd as a Direct Debit has to be signed and if payment stops the insurance is immediately cancelled.
When PIC office in Pukekohe was queried about the interest rate they stated that they had no knowledge of the 25% and that the interest rate was only 9%. When asked to review the position, they stated that the terms to go monthly were non-negotiable.
P.I.C INSURANCE BROKERS LIMITED (Company #451964) and the finance company, STOCKADE PREMIUM FUNDING LIMITED (Company #1138701), are majority owned and totally controlled by Michael Geoffrey GARNER, 20 Chisbury Terrace, Shelly Park, Manukau, 2014 , New Zealand
Poll: 🤖 What skills do you think give a CV the ultimate edge in a robot-filled workplace?
The Reserve Bank has shared some pretty blunt advice: there’s no such thing as a “safe” job anymore 🛟😑
Robots are stepping into repetitive roles in factories, plants and warehouses. AI is taking care of the admin tasks that once filled many mid-level office jobs.
We want to know: As the world evolves, what skills do you think give a CV the ultimate edge in a robot-filled workplace?
Want to read more? The Press has you covered!
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52.8% Human-centred experience and communication
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14.7% Critical thinking
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29.6% Resilience and adaptability
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2.9% Other - I will share below!
Brain Teaser of the Day 🧠✨ Can You Solve It? 🤔💬
Make a hearty dish. Take just half a minute. Add four parts of kestrel. Then just add one. What have you made?
(Trev from Silverdale kindly provided this head-scratcher ... thanks, Trev!)
Do you think you know the answer? Simply 'Like' this post and we'll post the answer in the comments below at 2pm on the day!
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Boundaries of Adaptation - An exhibition by Nina Bulgakova
Boundaries of Adaptation
An exhibition by Nina Bulgakova
28 February - 18 March
Community Gallery Space - Franklin Arts Centre
Opening Event: Saturday 28 February, 10am
Adaptation is often understood as the ability to adjust to an environment, to accept its conditions and become less visible within it. In this body of work, the focus shifts to a different moment, the point at which adaptation reaches its limit and begins to form a boundary.
This boundary is not a gesture of refusal or isolation. It appears as a need to define how interaction with the outside world takes place. Not to shut it out, but to stay in contact while maintaining a sense of stability. Here, the boundary is not an opposition, but a way of reaching agreement.
The works take the form of wall-mounted sculptural objects, where the boundary becomes material and physically present. Within these objects, it is expressed through weight, density, surface, and tension of form, shifting from an abstract idea into a direct experience.
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