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Steps to a new regime

The FMA has set out the steps to the new adviser regime, the sequence of events for passing of the legislation through to development of the Code of Conduct and Regulations, including transitional arrangements, is as follows. ...
Court rejects bid for full replacement

The Court of Appeal has dismissed a case bought by Christchurch buyers of an earthquake-damaged house. A bid by new owners to be paid out full replacement value for an earthquake-damaged house has been rejected by&nb...
Code Working Group Signals Change

Code working group chairman Angus Dale-Jones says the group is already anticipating changes to the proposals it put forward – including the wording of its “good advice outcomes” directive. In its proposals, to for...
Reporting error in claims figures

The Earthquake Commission (EQC) has revised its reporting of the number of open claims it is working to settle, following an upgrade of its claim management system. EQC said it is now working on an additional 949 claims that were...
Review of Earthquake Commission

The Commission of Inquiry into the Earthquake Commission should be underway shortly with a focus on lessons learned from the Canterbury and Kaikōura earthquakes. Putting customers at the centre of reform should be the objective....
Natural Disaster Fund down to $287M

The Earthquake Commission’s (EQC) assets have dropped significantly to $287 million from $6.4 billion in just eight years, it has been revealed. The assets, according to a report from  RNZ,  will soon reach the $200...
Digital-first brokerage to launch

Rapid digitalisation within the insurance sector has been met with mixed responses from industry participants - from an enthusiastic embracing of new technologies, to scepticism regarding its effectiveness. However, one brokerage says...
"We don't know what we are doing"

Warren Buffett said he doesn’t want  Berkshire Hathaway  Inc. being a leader on cyber insurance because neither he nor others in the industry really know the risk. "I don’t think we or anybody else really...
Insurance slow to fintech party

Fintech has taken off massively in the insurance space in recent months, and the industry faces an ever increasing demand for swifter and more efficient solutions. The New Zealand Financial Innovation & Technology Association...
Administrators back winding up

Voluntary administrators say placing CBL Corporation into liquidation is the best option for creditors. Creditors will meet on Friday in Auckland to vote on the liquidation resolution. If this fails, they will be asked to...

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