How a sick day cost a man $370K: Insurance broker is caught out after claiming he had a bad back - and then going on luxury holidays to Hawaii and buying two Mercedes Peter Taylor, of Dunedin, New Zealand was ordered to repay Asteron insurance He claimed he suffered from cancer, severe back pain, and other issues in 2010 Taylor was granted him income protection with disability payouts for four years Court heard he bought a holiday home and was still earning a separate income Do you know more? Email karen.ruiz@mailonline.com By Karen Ruiz For Daily Mail Australia Published: 07:37 BST, 15 May 2019 | Updated: 07:37 BST, 15 May 2019 Viewcomments An insurance broker who claimed he was too sick to work has been hit with $370,000 in reimbursement fees after he was caught living a lavish lifestyle. Peter Taylor, from Dunedin, New Zealand filed for income protection with Asteron Life in 2010 claiming he suffered from bone cancer, severe back pain, a radiation burn, among other health issues. At the time, Taylor was a self-employed insurance broker and was seeking disability payouts alleging he was too ill to continue working, the New Zealand Herald reported. His insurance policy allowed him benefits only if he worked no more than ten hours a week. High Court heard Peter Taylor, from Dunedin, New Zealand, went on vacations to Hawaii, purchased two new Mercedes Benz and bought a $700,000 holiday home while receiving disability payouts from his insurer A court heard the company granted him protection and issued regular payouts until 2014 - when it discovered Taylor had received payments totalling $551,491 from separate accounts. Taylor allegedly failed to provide clarification for the payments, prompting Asteron to cancel any further payouts. According to the High Court's findings, during this period Taylor had spent over $700,000 on a new holiday home in Karitane, a total of $370,000 on two Mercedes Benz Coupes, as well as splurging on trips to the Pacific. Taylor claimed the holiday home was a necessary purchase because his disability prevented him from travelling to his other home Wanaka. The company challenged his claim of being unable to be seated for work due to 'extreme back pain' by pointing out his 12-hour flight to Hawaii. The court also heard Taylor had continued to work from his home and office and his income was 'essentially unaffected.' A discovery of separate bank accounts revealed he hard earned profits totalling more than $166,000, after reporting losses of up to $75,301 a year through other accounts. Justice Cooke determined Taylor's responses to the findings were 'at times not credible.' The judge also concluded that the accounts reporting profits had been manipulated to create the 'false' second set. Taylor had filed the suit with the high court seeking payment from Asteron which was ultimately dismissed. Justice Cooke instead ruled in favour of the insurance company and ordered the man to pay $371,286.70. Read more: Share or comment on this article: All rights reserved for this news site dailymail and under his responsibility