Insurance news

Govt to set up insurance tribunal to help settle remaining quake claims

18 May 18, 7:12am

Insurers back Government's move to spend $8 million on tribunal to help settle the thousands of outstanding Canterbury earthquake claims
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Faafoi encourages life and health insurers to ditch soft commissions

17 May 18, 10:59am

Jenée Tibshraeny

16 comments

Commerce and Consumer Affairs Minister Kris Faafoi disappointed life and health insurers spent $34m on soft commissions in two years, but won't commit to banning them
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Revealed: Insurer incentivises advisers with $95k junkets to London

16 May 18, 3:00pm

Jenée Tibshraeny

23 comments

Life and health insurers spend 9% of their sales revenue on soft commissions for the advisers who sell their products; FMA warns of conflicts of interest
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How will our insurers stack up if there's a financial services inquiry?

15 May 18, 4:10pm

Gareth Vaughan

3 comments

Any NZ inquiry into the conduct of the financial services sector will require a lengthy and deep probe into the insurance sector, Gareth Vaughan argues
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NZ bank bosses may be hauled before Parliamentary select committee after Aussie banking scandals

15 May 18, 1:05pm

Jason Walls

14 comments

Michael Wood, the Chairman of Parliament's Finance and Expenditure Select Committee, says summoning bank CEOs to appear before MPs is an ‘open and live option’
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Dispute resolution schemes fight to keep their distance from regulators

11 May 18, 5:00am

Jenée Tibshraeny

1 comment

Schemes that deal with complaints people make about their financial service providers urge the Government not to go too far in making them report all the misconduct they see to regulators
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Shareholders want CBL liquidated

10 May 18, 4:02pm

Jenée Tibshraeny

The New Zealand Shareholders' Association calls for CBL Corporation to be liquidated and the FMA to exercise its powers to act on behalf of investors
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Dispute resolution schemes in dispute

9 May 18, 4:03pm

Jenée Tibshraeny

2 comments

Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
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Sales culture and incentives: A deep dive into where banks in NZ are at

3 May 18, 2:10pm

Jenée Tibshraeny

27 comments

Banks' attempts to be more customer-centric by changing the way they incentivise staff slammed by union for being superficial; FMA optimistic about impact of financial advice and insurance contracts law changes
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There's no reason to have a NZ Royal Commission yet

3 May 18, 10:01am

Gareth Vaughan

14 comments

Gareth Vaughan probes the FMA & RBNZ's demand for NZ banks to prove they're better behaved than their Aussie parents & concludes the argument for a Royal Commission doesn't stake up at this point
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Big NZ banks told to prove they are different to their Aussie parents

2 May 18, 7:39am

Gareth Vaughan

53 comments

FMA's CEO Rob Everett & RBNZ Governor Adrian Orr tell NZ's big bank CEOs to prove their banks are different to their Aussie parents
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ANZ and IBM seek insurance industry buy-in for blockchain product

30 Apr 18, 9:33am

Jenée Tibshraeny

2 comments

ANZ and IBM release proof of concept for blockchain product aimed at reducing the to-ing and fro-ing between insurers and brokers; Suncorp involved in testing technology
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CBL Insurance is solvent, claim directors

27 Apr 18, 1:50pm

Jenée Tibshraeny

1 comment

Two of CBL Insurance's six directors claim the company in interim liquidation is solvent; issue to be addressed in court when RBNZ's liquidation claim is heard in June
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AMI's $1.48 billion govt bailout - the real cost blowout from the quakes

25 Apr 18, 7:24am

Jenée Tibshraeny

31 comments

The greater the grillings Gerry Brownlee and Sid Miller receive for EQC’s re-repairs cost blowout, the more evident the lack of scrutiny of former AMI directors becomes
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Important insurance tips for those affected by the storm

11 Apr 18, 2:21pm

Jenée Tibshraeny

1 comment

Insurance and Financial Services Ombudsman advises those hit by the storm to take photos of damage and contact their insurers before cleaning up
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Govt unveils how it wants financial advisers to be more transparent

11 Apr 18, 8:16am

Jenée Tibshraeny

19 comments

Govt seeks feedback on what tough disclosure requirements to curb conflicted advice should look like in the absence of a ban of commissions
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Insurers scant on detail around transitions to risk-based pricing models

6 Apr 18, 12:37pm

Jenée Tibshraeny

9 comments

Question marks remain over the extent to which further insurance premium hikes flagged for more disaster-prone parts of the country will be offset by decreases in lower risk places
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Brownlee on how EQC spending $270m on botched quake repairs is a good sign

5 Apr 18, 5:40pm

Jenée Tibshraeny

32 comments

Gerry Brownlee speaks out on EQC: “I just think people aren’t seeing the wood for the trees here. And in this case the wood - Megan - is making a whole lot of mischief"
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Where to now for LVRs?

4 Apr 18, 7:45am

David Hargreaves

17 comments

New RBNZ Governor Adrian Orr gets an early opportunity to strike a favourable impression with the public late next month by further loosening the LVR lending restrictions
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Progress on insurance law reform delayed partially by CBL investigation

23 Mar 18, 12:39pm

Jenée Tibshraeny

Review of law aimed at maintaining a 'sound' insurance sector delayed by Reserve Bank's investigation into CBL, among its other 'supervisory priorities'
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