Five risk factors lead to the five most common preventable non-communicable diseases (NCDs) which account for more than 90% of New Zealand's deaths, says a report from AIA NZ.
Tower Insurance and FRISS will collaborate to expand automation to detect genuine and suspicious claims in real time and allow for a faster process for customers in need.
The government announced last week that the ceiling on Earthquake Commission (EQC) cover for residential buildings will double to $300,000 [$209,000] (plus GST)from NZ$150,000 at present.
The Material Damage & Business Interruption branch remains largely profitable for insurers in New Zealand despite several large weather-related events, says insurance broking firm Crombie Lockwood in its report titled "Insurance Market Outlook - September 2021".
Overall, the New Zealand insurance market is in good health and stable, says insurance broking firm Crombie Lockwood in its report "Insurance Market Outlook - September 2021".
The Financial Markets Authority (FMA) is urging an estimated 200,000 New Zealanders who have credit card repayment insurance (CCRI) to check whether they still need the product, after a review found cover to be of poor value.
Swiss Re estimates the mortality protection gap (MPG) for New Zealand at $435bn (NZ$670bn) or more than $540 000 for each household of the country as of 2020.
New Zealand's mortality protection gap (MPG) stood at $435bn as of 2020, according to an estimate by Swiss Re Institute which modelled the country's MPG for the first time based on an extensive consumer survey combined with macroeconomic data.
A push is on for four financial services disputes schemes merged to create a single complaints-handling agency.
Preliminary figures for the 16-19 July storm show that 5,207 claims have been made to date, with insured losses amounting to at least NZ$122m ($86.6m), says the Insurance Council of New Zealand (ICNZ).