The Financial Services Council of New Zealand (FSC) in its submission on the proposed New Zealand Income Insurance Scheme (NZIIS) has called for more time and wider industry engagement to ensure that the scheme is best placed to achieve its objectives.
The New Zealand Government has launched a draft National Adaptation Plan, aiming to help communities adapt to the unavoidable impacts of climate change. It is seeking public feedback on the draft plan.
Insurance pricing in the Pacific region, dominated by the Australian market, increased by 10% in the first quarter of this year, down from 13% in the prior quarter. This is the fifth consecutive quarterly reduction in the rate of increase for the region, according to Marsh's "Global Insurance Market Index Q1 2022" report.
Tower Limited is expected to report positive underwriting and operating results, supported by appropriate risk selection and pricing, as well as through anticipated expense efficiencies achieved by core system upgrades in recent years, says AM Best.
Zurich Australian Insurance yesterday announced that it will be launching its small business (SME) insurance offering to the New Zealand market.
Provisional general insurance claims for cyclone Dovi, which traversed the North Island and the top of the South Island between 9 and 14 February, total NZ$44.43m ($31.1m) across 8,767 claims, says the Insurance Council of New Zealand (ICNZ).
AMI Insurance has released data around vehicle thefts over the past three years and found that the Mazda Demio is the most stolen car in New Zealand.
The government has introduced a Bill in Parliament that, when passed, will improve the Earthquake Commission (EQC) scheme.
The Reserve Bank of New Zealand (RBNZ) has announced that the interim solvency standard for insurers will come into force after 1 January 2023.
The latest biennial edition of the "Insurance Banana Skins" survey reveals cyber crime is now the top risk for insurers both in New Zealand and globally.