Insurers risk being left behind if they fail to adapt to changes to traditional business models brought about by disruptive technology and shifting customer demands over the next decade, EY warns. The industry faces challenges from...
InsurTech Digital Transformation has emerged as a new ‘mega-trend’ where new technologies and processes are being used to fundamentally change our way of working in insurance. The key features of Digital Trans...
Delegates at the Financial Services Council annual conference were given a clear message that they needed to “up their game”, or the Government would intervene. The Minister of Commerce and Consumer Affairs, Kris Faa...
The Reserve Bank of New Zealand (RBNZ) and Financial Markets Authority (FMA) today released their findings on life insurers’ responses to the joint Conduct and Culture Review. Overall, the regulators were disappointed by the...
Authors: David Friar and Simone Cooper
In a landmark decision for class actions in New Zealand, Ross v Southern Response , 1 the Court of Appeal has ruled that a representative action brought by two Christchurch homeowners can proceed on an “opt-out"...As the financial services sector undergoes sweeping changes, Rod Severn from Professional IQ College writes that now is the time for advisers to knuckle down and make sure they meet the requirements under the new regime...
Registrations are now open for the Insurance Council 2019 conference which continues their two-theme approach, this year being — conduct and culture, and resilience. IC NZ 2019...
Christchurch assets such as pipes and roads remain significantly under-insured. The city council is grappling with how to increase its coverage, looking at alternative ways to finance the risk, and insurance...
Complaint enquiries to New Zealand’s Financial Services Ombudsman jumped to 3805 in the year to June 30, up from 3357 in the previous year, with the most common complaint issues centred on insurance policy exclusions, scope of...
New Zealand homeowners are miscalculating the cost of rebuilding their properties, leading to the risk of underinsurance, IAG has warned. Home and Contents Portfolio Manager Brendan McGillicuddy says property owners can...
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