Insurance news

31 May 18, 1:38pm

If the Government decides there needs to be more meth residue in a property for it to be considered contaminated, insurers won't have to cover the remediation costs of as many properties as they do now
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LVRs are now part of the furniture

30 May 18, 2:42pm

David Hargreaves

17 comments

David Hargreaves sees little chance that the Reserve Bank's loan to value ratio restrictions will now ever be removed
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ANZ NZ finds buyer for life insurance business

30 May 18, 11:53am

Jenée Tibshraeny

7 comments

NZ life insurance market consolidates as ANZ agrees to sell OnePath Life to Cigna for $700 million; Sale to see Cigna become NZ's third largest life insurer
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No LVR loosening till November 'at least'

30 May 18, 9:15am

David Hargreaves

18 comments

Reserve Bank says financial risks have lessened but will not be loosening LVR restrictions at this stage; will wait till November 'at least' before any loosening
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Storms prompt more insurance premium hikes, says Tower

29 May 18, 12:56pm

Jenée Tibshraeny

1 comment

Tower widens half-year loss off the back of storms and disappointing settlement with reinsurer; Risk-based pricing gets underway
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RBNZ 'unlikely to relax LVR rules'

28 May 18, 1:49pm

David Hargreaves

3 comments

Economists doubt the Reserve Bank will want to further roll back mortgage lending restrictions this week and will prefer to wait longer to see how the housing market develops this year
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April storms add $72m to insurers' high & rising weather-related claims costs

25 May 18, 2:59pm

Jenée Tibshraeny

5 comments

Insurers renew their calls for immediate action on climate change adaptation as the cost of more frequent extreme weather events stack up
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Life insurers put under the same spotlight as banks

24 May 18, 12:46pm

Jenée Tibshraeny

3 comments

FMA and RBNZ give life insurance companies until June 22 to prove they aren't mimicking the misconduct of some of their Australian parents
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Insurance probe gains traction

22 May 18, 11:39am

Jenée Tibshraeny

15 comments

Commerce and Consumer Affairs Minister Kris Faafoi seeks feedback on insurance law revamp that aims to regulate insurers' conduct and better protect consumers who risk having their claims declined due to non-disclosure
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CBL situation prompts FMA to get advice from court on disclosure rules

18 May 18, 7:20am

Jenée Tibshraeny

FMA believes companies should keep updating the market even if they're in voluntary administration; Says its dealings with CBL have prompted it to ask the court for clarity on the matter
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Govt to set up insurance tribunal to help settle remaining quake claims

18 May 18, 7:12am

Jenée Tibshraeny

1 comment

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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