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
A Whole New Lifestyle
CARE, COMMUNITY, AND CONNECTION
Acacia Cove, a country-style village situated on the beautiful Wattle Downs Peninsula has 31 weekly activities.
For those who appreciate the tranquility of an estuary setting Acacia Cove has it all, as well as its own restaurant, heated indoor pool, library, bowling green and gym.
Whether you choose to live in a villa or one of our luxurious apartments, you’ll have the security of a 24 hour, fully monitored emergency call system built in.
If you’re aged 60 or over, value your independence but want greater security, come and have a look at the superb properties we have to offer.
Contact long time manager Bruce to book a visit today!
(09) 268 8522.
admin@ocaciacove.co.nz
Drury Bait and Trap Day
Bait and Trap Day, Saturday 27th April, 9am – 11am, Drury Library
Get painting with Resene plant-based paints!
Plant-based paints are made just like normal paint but everything in the tin comes from plants and minerals.
Plus they’re Eco Choice approved with low odour and easy water clean-up, so you can paint or stain your place with ease.
Available from Resene ColorShops.
Loading…
