Government bill confirms insurance reform is on the way Last month we updated you on a Parliamentary member’s bill proposing widespread insurance law reform. The Government has now introduced its own version – the Con...
New bill highlights need for enhanced consumer protection
Insurance & Financial Services Ombudsman Karen Stevens has expressed optimism about impending changes to New Zealand’s insurance legislation, which aims to simplify and clarify contracts for consumers. The new...WorkSafe New Zealand (WorkSafe) has confirmed that it has charged Whangārei Boys’ High School’s Board of Trustees (WBHS BOT) under the Health and Safety at Work Act 2015 (the HSW Act). The confirmation from WorkSafe this wee...
With many NZ homes at risk of flooding, insurance coverage threat looms
The Organisation for Economic Co-operation and Development (OECD) has stated that if an insurance crisis in New Zealand were to emerge, the government may need to intervene, according to a report by The Post. According..."We are only really entering the woods at this point," says NCI's MD
“We are only really entering the woods at this point,” said Zara Mends (pictured). “The full impact is yet to be realised of sustained high interest rates, continued inflationary effects and a general downturn in...Expert outlines alternatives for consumers looking to mitigate costs
Over the past year, homeowners in New Zealand have faced a sharp increase in insurance costs, with premiums rising at a rate six times greater than that of wage growth. Stats NZ reports indicate a 24.6% rise in...Export prices down by 30% over the last two years
New Zealand sheep farmers are cutting insurance coverage to reduce expenses amid plummeting export prices and rising operational costs. With export prices down by 30% over the last two years and on-farm costs up 20%,...Climate is just one of the key issues…
Climate-related disasters rank as just one of the leading factors turning the insurance industry on its head. Complications with global supply chains, an increase in cyberattacks and the rise in geopolitical conflicts...It aims to support primary insurers in developing products
Munich Re's REALYTIX team has introduced a new generative AI function, a GenAI-Co-Pilot, on its REALYTIX ZERO platform. This new tool is designed to streamline the development of insurance products for its clients....New Gallagher Bassett insight shows that the answer is ‘yes’
Global supply chain issues are a major obstacle for insurers, as they affect the claims management processes in various ways. A new survey by Gallagher Bassett, published as part of The Carrier Perspective: 2024 Claims...
