Live News
An update on legislation reviews

As the year draws to a close there are several government reviews in progress which have the potential to significantly impact IBANZ Members.  We can summarise the current status of these exercises as follows:   Fin...
Need for conduct regime explained

The new financial conduct regime is well underway, and the government announced a package of options in September around a new licensing system for banks and insurers. The system is looking to set a ‘fair treatment standard&r...
New licencing regime introduced

The Financial Markets (Conduct of Institutions) Amendment Bill has been introduced to Parliament by Minister Kris Faafoi.  The Bill introduces a licensing regime regulated by the Financial Markets Authority (FMA) for conduct b...
More input being sought

The government will consult further on plans to remove unfair contract terms insurance exemptions as it considers aligning the rules with proposed changes in Australia. An earlier options paper didn’t include consultation on...
Hail damage not structural

Timaru residents whose cars were damaged by last month’s hailstorm have one less thing to worry about as the New Zealand Transport Agency (NZTA) confirmed that most hail-damaged vehicles will be issued a Warrant of Fitness (WOF)...
White Island injuries covered

Australian tourists who were visiting White Island when it erupted will be covered by New Zealand’s Accident Compensation Corporation (ACC), while some travel insurers have also confirmed coverage. The ACC provides accident...
Wish list for 2020

Tim Grafton - ICNZ:     What a year it’s been!  What was heading to be a benign year for claims was turned on its head in the last quarter. It’s too early to count the losses, but the Sky City...
NZ shares earthquake learnings

The National Reconstruction Authority (NRA) of Nepal has concluded a two-week long study trip to New Zealand, where it met with a host of organisations including Wellington City Council, GNS Science, Massey and Canterbury Universities...
Sixteen projects to get funding

The Earthquake Commission will provide funding of $1 million for 16 research projects that could help reduce the impact of natural disasters. Projects supported under a biennial awards program include detecting signs of volcanic...
Minister discusses insurance law

Looming changes to insurance laws should give consumers more certainty about whether their claims will be paid, Commerce Minister Kris Faafoi says. The Government has been running a review of New Zealand's insurance contract...

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