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AMI's new insurance data - sourced from the largest general insurance dataset in the country - reported almost 12,000 vehicle theft claims throughout 2024, including claims relating to attempted vehicle theft. Last year, the T...
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Financial performance took a hit from event
Wool carpet manufacturer Bremworth has reached a final insurance settlement for losses sustained due to Cyclone Gabrielle in February 2023. The company confirmed that the total settlement amount is $104.2 million, with insurers set...Feature
Technology and artificial intelligence (AI) are reshaping insurance distribution, creating challenges and efficiencies for intermediaries, as insurers balance profitability with customer and agent satisfaction. Capgemini’s 2...
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A new version applying to all qualifying crashes takes effect from June 2025 ...
The effect of the Agreement Motor Insurance customers need to be aware of an agreement between many vehicle insurers operating in New Zealand known as the Knock For Knock Agreement. This Agreement has been in place and...Feature
The worsening impacts of climate change will force home insurers to stop covering thousands of risky coastal and flood-prone properties in New Zealand, a new report warns. The paper from the Helen Clark Foundation and engineering...
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The Insurance Brokers Association of New Zealand (IBANZ) is concerned that the NHC’s discretionary power to decline cover where a Natural Hazard Section Notice is recorded on a property title is not sufficiently understood....
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Treasury is reviewing the levy and financial settings under the Natural Hazards Insurance Act (NHI Act), concerned that current levy settings will not meet the projected costs of running the scheme. It points to the 2022...
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Statutory liability insurance covers claims arising from a potential unintentional breach of a statute. While the Health and Safety at Work Act is probably the most familiar example, claims arising from a range of statutes...
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Ensuring a pipeline of appropriately skilled financial services practitioners...
One of the keys to achieving this is ensuring that industry training programmes are fit for purpose and properly prepare those wanting to enter or progress in the industry in ways that are realistic and relevant. The NZ...Feature
Economic losses from natural disaster events reached $368 billion in 2024, driven by Hurricanes Milton and Helene, severe convective storms in the U.S., and flooding across Europe. These events demonstrate the critical role of...
