Insurance
Insurer Youi cops $320,000 fine for widespread Fair Trading Act breaches; Side-steps fine of up to $9 million
15th Dec 16, 3:37pm
9
Insurer Youi cops $320,000 fine for widespread Fair Trading Act breaches; Side-steps fine of up to $9 million
Agreement reached to see private insurers receive, assess and settle Kaikoura quake claims on behalf of EQC
13th Dec 16, 2:40pm
2
Agreement reached to see private insurers receive, assess and settle Kaikoura quake claims on behalf of EQC
Judge orders Tower to pay quake claimant more than 4 times settlement offer; Finds insurer guilty of withholding information
12th Dec 16, 10:00am
21
Judge orders Tower to pay quake claimant more than 4 times settlement offer; Finds insurer guilty of withholding information
RBNZ concerned insurers risk eroding their solvency buffers and reducing their flexibility to manage a crisis if they keep dishing out large dividends
9th Dec 16, 12:24pm
2
RBNZ concerned insurers risk eroding their solvency buffers and reducing their flexibility to manage a crisis if they keep dishing out large dividends
Supreme Court backs Vero in landmark property damage case; Rules you can't reopen an insurance claim once it has been settled
6th Dec 16, 3:05pm
2
Supreme Court backs Vero in landmark property damage case; Rules you can't reopen an insurance claim once it has been settled
Government confirms it has not been approached by Tower as the insurer seeks capital to ring-fence its quake-related business; Forsyth Barr expects Tower to sell 'RunOff Co'
6th Dec 16, 10:02am
15
Government confirms it has not been approached by Tower as the insurer seeks capital to ring-fence its quake-related business; Forsyth Barr expects Tower to sell 'RunOff Co'
Banks don't know how vulnerable they are to underinsurance; Insurers don’t see major underinsurance risks post-Kaikoura
3rd Dec 16, 5:02am
12
Banks don't know how vulnerable they are to underinsurance; Insurers don’t see major underinsurance risks post-Kaikoura
IAG's chief risk officer believes Wellingtonians will soon stop being subsidised by insurance policyholders in other parts of the country for living in a quake hotspot
2nd Dec 16, 12:02pm
39
IAG's chief risk officer believes Wellingtonians will soon stop being subsidised by insurance policyholders in other parts of the country for living in a quake hotspot
RBNZ says Kaikoura quakes could cost NZ$3-8 billion, including up to NZ$3 bln of Govt spend and up to NZ$5 bln of insurance; still confident on economy; says insurers can handle claims
30th Nov 16, 4:05pm
2
RBNZ says Kaikoura quakes could cost NZ$3-8 billion, including up to NZ$3 bln of Govt spend and up to NZ$5 bln of insurance; still confident on economy; says insurers can handle claims
Youi says it's part of its 'business practice' to keep writing new insurance policies in most cases in disaster struck areas, even if its competitors don't
30th Nov 16, 10:50am
10
Youi says it's part of its 'business practice' to keep writing new insurance policies in most cases in disaster struck areas, even if its competitors don't
Tower announces plan to ring fence troublesome quake claims; says industry model is 'broken'; widens loss to $21.5 million; share price at record low
29th Nov 16, 9:51am
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Tower announces plan to ring fence troublesome quake claims; says industry model is 'broken'; widens loss to $21.5 million; share price at record low
IAG on when we need to update our insurers on a change of circumstances
25th Nov 16, 11:21am
IAG on when we need to update our insurers on a change of circumstances
Insurance Council calls for law change to oblige authorities to check businesses' air con units, lights, sprinklers, etc will be secure in an earthquake; Attributes up to 70% of commercial building damage to seismic restraint failures
23rd Nov 16, 2:29pm
Insurance Council calls for law change to oblige authorities to check businesses' air con units, lights, sprinklers, etc will be secure in an earthquake; Attributes up to 70% of commercial building damage to seismic restraint failures
Insurer credit rating agency AM Best to closely monitor implications for the financial strength of insurers with significant exposure to earthquake hit regions
18th Nov 16, 11:42am
1
Insurer credit rating agency AM Best to closely monitor implications for the financial strength of insurers with significant exposure to earthquake hit regions
Geof Mortlock calls for policyholder compensation to be introduced to prevent taxpayers covering the costs if an insurance company goes bust
17th Nov 16, 9:58am
11
Geof Mortlock calls for policyholder compensation to be introduced to prevent taxpayers covering the costs if an insurance company goes bust
Tower confident it has enough reinsurance so the North Canterbury quakes won't set it back more than $7.2m; Share price falls as its investors wary 2010/11 quake hangover remains
15th Nov 16, 12:51pm
5
Tower confident it has enough reinsurance so the North Canterbury quakes won't set it back more than $7.2m; Share price falls as its investors wary 2010/11 quake hangover remains
Insurers urge those affected by the quakes to document damage, lodge claims with EQC in the first instance, and be assured there's money in the kitty to cover the costs
14th Nov 16, 12:26pm
3
Insurers urge those affected by the quakes to document damage, lodge claims with EQC in the first instance, and be assured there's money in the kitty to cover the costs
Lloyd's of London urges the Government to remove some uncertainties from the NZ insurance market by getting on with the EQC Act review and making data breach reporting mandatory
8th Nov 16, 9:07am
1
Lloyd's of London urges the Government to remove some uncertainties from the NZ insurance market by getting on with the EQC Act review and making data breach reporting mandatory
What property owners need to know as their insurers duck for cover to avoid being lumped with meth damage bills
4th Nov 16, 5:02am
4
What property owners need to know as their insurers duck for cover to avoid being lumped with meth damage bills
IAG NZ buys $900 million of extra reinsurance as its Canterbury earthquake bill keeps growing
3rd Nov 16, 8:31am
11
IAG NZ buys $900 million of extra reinsurance as its Canterbury earthquake bill keeps growing
NZ economy vulnerable to risk of reinsurers charging insurers a premium for uncertainty caused by delayed EQC Act review
31st Oct 16, 9:08am
2
NZ economy vulnerable to risk of reinsurers charging insurers a premium for uncertainty caused by delayed EQC Act review
Fire Service Commission proposes insurance policyholders up their contributions to the service by nearly 40% next year
27th Oct 16, 1:58pm
Fire Service Commission proposes insurance policyholders up their contributions to the service by nearly 40% next year
EQC Act review stalled by 'the complexity of the issues and ongoing engagement with insurance industry stakeholders', Treasury says
27th Oct 16, 7:36am
4
EQC Act review stalled by 'the complexity of the issues and ongoing engagement with insurance industry stakeholders', Treasury says
Peter Neilson wants the US with China and the EU, to encourage most countries to charge for carbon emissions, and adopt border carbon charge adjustments, so action on climate change is fair, effective and inclusive
24th Oct 16, 3:25pm
2
Peter Neilson wants the US with China and the EU, to encourage most countries to charge for carbon emissions, and adopt border carbon charge adjustments, so action on climate change is fair, effective and inclusive
QC urges High Court judge to put an end to insurers’ 'tactics of delay and dissembling facts' to force their clients to accept lower payouts
19th Oct 16, 10:29am
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QC urges High Court judge to put an end to insurers’ 'tactics of delay and dissembling facts' to force their clients to accept lower payouts
