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: Do you set New Year’s resolutions?
🎉 2026 is almost here!
We’re curious ... how do you welcome it?
Do you set resolutions, follow special traditions, or just go with the flow?
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10.5% Yes! New Year, New Me
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20.2% Yes - but I rarely stick to them
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69.3% Nah - not for me
Witnesses sought in relation to mass disorder on K-Road Auckland
Police are appealing to the public for any footage they may have of the mass disorder that occurred on Karangahape Road in Auckland in the early hours of Sunday 28 December.
Emergency services were called to the disorder around 3.41am where it is estimated around over 50 people were present.
A Police investigation is underway after there were three serious assaults on and around Karangahape Road during the mass disorder.
A portal has been set up to allow the public to upload any footage they have of the disorder and the serious assaults.
The portal is https://dahr.nc3.govt.nz/
Police have arrested one person but are asking for help to identify and locate others involved.
• Around 4:15am there was a serious assault outside the Crown Bar on Queen Street.
A 33-year-old man received serious injuries and was hospitalised.
The offender is still unknown, and the Police file number is 251228/4647.
• Around 4:30am there was another serious assault on a Cobden Steet just off Karangahape Road.
A 27-year-old man received serious injuries and was hospitalised.
The offender is still unknown, and the Police file number is 251228/4462.
• Around 5am there was third serious assault at the Mobil Service Station on the corner or Karangahape Road and Ponsonby Road.
A 46-year-old man received serious injuries and was hospitalised.
A 21-year-old man has been charged with wounding with intent to cause grievous bodily harm.
He has been bailed to appear in court again on 16 January 2026.
The Police file number is 251228/4774.
Police would like to speak to anyone who has witnessed or filmed the assaults.
Witnesses can call Police directly on 105.
Please quote one of the above file numbers.
Scam Alert: Fake information regarding December Bonuses from MSD
The Ministry of Social Development is reporting that fake information is circulating about new ‘December bonuses’ or ‘benefit increases’
If you get suspicious communication, please contact Netsafe.
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