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New Zealand tag returned 197 results

  • American insurer to stop offering high net worth insurance in New Zealand

    AIG is discontinuing its private client group's home, contents and yacht insurance cover and will no longer offer high net worth insurance in New Zealand, effective 31 July 2019 according to a statement on the insurer's website. AIG has been operating in the country since 1970 and continues to offer corporate and commercial insurance as well as risk management products and services.

    Asia | 24 Jun 2019
  • New Zealand: Govt plans huge hike in oil spill insurance coverage

    Offshore oil and gas operators will be required to hold higher levels of insurance to ensure they can cover the cost of an oil spill under proposed new rules announced lsat week by Associate Minister for Transport Julie Anne Genter.

    Asia | 24 Jun 2019
  • Earthquake model for New Zealand gets updated

    With New Zealand being highly prone to earthquakes which can lead to significant insured losses, catastrophe risk modelling firm AIR Worldwide (AIR) has released its updated earthquake model for the country. This updated model has now become the first model to cover trans-ocean basin tsunami risk from distant earthquakes, such as those off the western coast of South America. The earthquake model can also be used to demonstrate compliance with the Reserve Bank of New Zealand's Catastrophe Risk Capital Charge requirement.

    Asia | 21 Jun 2019
  • New Zealand: Govt to launch new regulatory system for financial advisors

    The New Zealand government yesterday announced a new licensing and rules regime for financial advisors.

    Asia | 20 Jun 2019
  • What's new in the market - 14 Jun 2019

    Welcome to what's new this week.

    Agents | 14 Jun 2019
  • New Zealand: 50% of Kiwis agree having adequate insurance is vital

    Just over 50% of New Zealanders surveyed agreed or strongly agreed that it is important to have the right amount of insurance to cover the impact of potential risk events, according to research commissioned by the Financial Services Council (FSC).

    Asia | 13 Jun 2019
  • New Zealand: Wellington forms taskforce to tackle insurance premium hikes

    Wellington, the capital of New Zealand, is forming a taskforce to look at the insurance market amidst premium increases that are hitting businesses hard.

    Asia | 12 Jun 2019
  • New Zealand: Insurance body says quake risk solutions have to be proportionate & sustainable

    The only way to ensure the long-term affordability of insurance for earthquake risk is to reduce risk, Mr Tim Grafton, chief executive of the Insurance Council of New Zealand, as he proposed potential solutions to address quake risk that he said should be proportionate to the scale of the problem.

    Asia | 11 Jun 2019
  • New Zealand: EQC secures reinsurance cover of over US$4bn

    International reinsurers have shown their continuing confidence in New Zealand and the Earthquake Commission (EQC) with an agreement reached for NZ$6.2bn ($4.1bn) of reinsurance with EQC for the policy year that began on 1 June 2019, EQC Chief Financial Officer Chris Chainey has said.

    Asia | 10 Jun 2019
  • New Zealand: Insurance pricing has become more risk-sensitive

    Insurers are increasingly using granular data on risk exposures and historical claims experience to price risks more accurately. A consequence of this greater 'risk-based pricing' is increased selectivity, differential pricing and changes in levels of coverage for insurance contracts, says the Reserve Bank of New Zealand in its May 2019 Financial Stability Report released earlier this week.

    Asia | 31 May 2019

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