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
Live Q&A: Garden maintenance with Crewcut
This Wednesday, we're having another Neighbourly Q&A session. This time with John Bracewell from Crewcut.
John Bracewell, former Black Caps coach turned Franchisee Development Manager and currently the face of Crewcut’s #Movember campaign, knows a thing or two about keeping the grass looking sharp—whether it’s on a cricket pitch or in your backyard!
As a seasoned Crewcut franchisee, John is excited to answer your lawn and gardening questions. After years of perfecting the greens on the field, he's ready to share tips on how to knock your garden out of the park. Let's just say he’s as passionate about lush lawns as he is about a good game of cricket!
John is happy to answer questions about lawn mowing, tree/hedge trimming, tidying your garden, ride on mowing, you name it! He'll be online on Wednesday, 27th of November to answer them all.
Share your question below now ⬇️
Poll: Should all neighbours have to contribute to improvements?
An Auckland court has ruled a woman doesn’t have to contribute towards the cost of fixing a driveway she shares with 10 neighbours.
When thinking about fences, driveways or tree felling, for example, do you think all neighbours should have to pay if the improvements directly benefit them?
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82.7% Yes
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14.7% No
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2.6% Other - I'll share below
Riddle Alert! Who’s Up for Some Brain-Busting Fun?
4-letter word, always done tomorrow,
We’re out of tea, the ultimate sorrow!
Without the eye, you owe me some money,
No sugar no nectar no sweetness no honey,
4-letter word, if by chance you choose,
You can never win, you can only lose!
What is the 4-letter word?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
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