The New Zealand Parliament has passed the Natural and Built Environment Act 2023 to repeal the Resource Management Act and enact a new regime for managing New Zealand's environment, says Mr Richard Flinn, a Wellington-based partner of the Australasian legal firm, Wotton + Kearney.
The Reserve Bank of New Zealand (RBNZ) has launched the final policy consultation on the review of the Insurance (Prudential Supervision) Act (IPSA) 2010.
The New Zealand cyber claims environment has seen fewer but more ferocious, larger and successful ransomware attacks, says lawyers at the Australasian legal firm, Wotton + Kearney.
An increase in third-party property damage claims arising from weather-related recoveries is expected in the next 12 months, say lawyers at the Australasian legal firm, Wotton + Kearney, which is focused on insurance, risk management and dispute resolution.
AIA NZ has welcomed Snap Fitness as a new gym partner and provider of AIA Vitality Fitness Assessments.
The rates for directors and officers liability insurance (D&O) have stabilised for most corporate clients as the hard market conditions continue to ease, says the New Zealand insurance broker, Crombie Lockwood.
AIA NZ has announced a collaboration with Smartshares, an investment funds manager in New Zealand and a subsidiary of NZX, to ensure a seamless and cost-efficient transition of the insurer's $500 million unit-linked policy portfolio into SuperLife funds.
In New Zealand vehicle insurance is the number one thing that people complain about to the Insurance & Financial Services Ombudsman Scheme (IFSOS). Vehicle insurance complaints constituted 23% of all complaints the IFSOS investigated in the past year.
Insurers have so far paid out NZ$2.053bn ($1.22bn) of a newly updated estimate of the cost of general insurance claims for the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle of $3.5bn across 112,812 claims.
London-headquartered specialist insurance broker Howden has announced that it has successfully completed the acquisition of Apex Insurance New Zealand and its associated subsidiaries (Apex), effective 31 August 2023.