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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

Updated
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

Updated
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

Updated
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

Bernard's election diary - July 15

Updated
SIS wanted to block residency of Kim "bad but wealthy" Dotcom, but relented after "political pressure"; Collins under pressure over altered crime stats; Compulsory Te Reo?; Your view?

Bernard's election diary - July 14

Updated
Greens says all rivers must be swimmable; Fed Farmers says that would shut down economy; Joyce says Opposition policy 'cartoon-like'; Peters launches transport policy; Your view?

Bernard's election diary - July 11

Updated
McCully announces Malaysian case Inquiry; Labour, NZ First slam Inquiry for not focusing on McCully; Labour proposes 1,200 IT apprenticeships, Drury vs Joyce in CTO twitter exchange; Your view?

Bernard's election diary - July 10

Updated
Woman at centre of Malaysian immunity mess calls for McCully to resign and criticises Key's sincerity; Labour to phase out CERA, share debt with Christchurch Council; Your view?

Bernard's election diary - July 9

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Debate rages over income inequality and child poverty after MSD issues annual report; Labour wants Insurance Commissioner and EQC levies on property rates; Your view?

The duty to tell vs the duty to ask

Andrew Hooker argues we should follow the Aussies and update our insurance law to reflect a better balance for the obligations of disclosure

How NZ general insurers stack up

NZ general insurers' premium growth and investment returns at, or near, top of international pack

Party Policies - Canterbury Earthquake - Insurance Court

This is where the parties stand on Canterbury's recovery from the earthquake.