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Insurance news

Posted in Personal Finance

A liability for us all

Cam Preston is watching the slow settlement progress of Southern Response and the growth of its liability to the taxpayer

Move and save

Elizabeth Davies moves to Tauranga from Auckland and discovers she's now less likely to have her house robbed, have her car stolen or be in a car crash; Her rent's cheaper too

6 NZ registered banks 'globally systemically important'

Third Chinese bank added to global list of 30 'too big to fail' banks; Credit Agricole, UBS downgraded; Nine insurers also deemed globally systemically important

Extension of creditor obligations

MBIE calls for views on proposals to extend laws on what lenders must pay borrowers who repay loans in full early

Sums insured, again

Andrew Hooker questions whether sum-insured policies actually work, calls for better underwriting standards, wonders how households can work with two different approaches

A 15 point plan

Action is required to protect New Zealand from natural hazard impacts says the Insurance Council

Countdown's insurance push

Supermarket chain Countdown enters personal insurance market in partnership with Cigna, Southern Cross

Govt insurance, risk management business on block

MBIE seeks panel of risk financing & insurance intermediary service providers for about $130m of annual government business

Banks 'can and will be allowed to fail'

NZ's stable, if heavily consolidated, financial system creates 'ample scope' for new entrants, RBNZ says

ASB yet to fully assess API revenue opportunity

A key focus of ASB's API move is addressing real issues in corporate, commercial and rural banking, the bank's executive general manager for technology and innovation says

State closing 21 of 22 branches

Insurer State shutting 21 of 22 branches saying 94% of customers now prefer to contact it via the phone or internet

Herbert Insurance boss jailed

Herbert Insurance Group's Grant Herbert jailed for 4 & a half years after using $2.5 mln of clients' money to pay his company's operating expenses

Notional repairs

Andrew Hooker wonders if, when an insurance company loses a test case, it has a responsibility to make good those who believed them before the case was decided

Govt seeks insurance 'intermediary supplier panel'

Govt moving to all-of-govt risk financing and insurance strategy with central govt agencies spending about $180m on insurance annually

Counting the cost

The Insurance Council says the 2014 insured cost of weather damage is now over $135 million

Monday's Top 10

The motherhood penalty; Stevens hard to impress; US$2.5 tln not enough; Draghi creates a cash problem; household budgets; capital vs democracy; solar grunt; Dilbert & more

ASB going gangbusters

ASB annual net profit rises 14% to record high of NZ$806 mln; Net interest margin growth strong, cost to income ratio falls, dividends rise

Insurers seek change to Fire Service Levy

ICNZ, NZIER argue Fire Service Levy an unfair burden on insurers, say Fire Service should instead be funded by local government levy on property

Canterbury earthquake insurance settlements top $12 billion

Private insurers reach the halfway mark by fully settling 11,392 over cap dwelling claims, including the completion of 2,203 rebuilds and major repairs, says ICNZ

Youi enters NZ insurance market

South African 'challenger brand' Youi officially launches in NZ targeting the IAG dominated car, home & contents insurance markets; CEO says he won't do irrational things to get marketshare