Live News
IAG updates DEF cover

Insurance company IAG New Zealand has changed its policy on cover for damage on cars caused by additive products incorrectly added to a fuel tank. From July 16, damage done to cars from diesel exhaust fluid (DEF) added in...
What do the changes mean

Tower Insurance recently announced the removal of duty of disclosure from its claims processes – a very significant move, given that no proposed reforms to duty of disclosure have yet been passed into law. Commenting on ...
"hornet's nest" or "can of worms"

English Court of Appeal says a ‘hornets’ nest’ or ‘can of worms’ is a valid circumstance notified under a claims-made policy The English Court of Appeal recently overturned the High Court’s decis...
EQCover Insurer Guides available

There are two versions of the EQCover: Insurer’s Guide available to reflect the full range of amendments to the Earthquake Commission Act 1993 that passed in February 2019. Please refer to...
FMA should tweak guidance

The Financial Markets Authority will need to refine its guidance on complaints handling processes if its proposed transitional license standard is to be effective, one complaints expert says. The FMA is consulting on two standard...
NZ caught up in PI fallout

Insurers in New Zealand are imposing tougher conditions for professional indemnity (PI) covers in response to the ongoing crisis in Australia and globally, Willis Towers Watson says today in a market update. London-based Landmark...
Insurance response to terror incident

Opinion:  Jake Carter           In insurance circles, Christchurch New Zealand is well known globally for the horrific damage caused by earthquakes and subsequent aftershocks in 2010 and 2011....
Changes to the duty of disclosure

New Zealand general insurer Tower has started to remove the “duty of disclosure” placed on customers from its sales and claims processing systems for home, contents and car products. It comes amid a review of insurance...
Cyber resilience report

FMA have published a report summarising the findings of our thematic review of cyber-resilience in New Zealand financial services. It includes guidance for firms in areas where they identified the need for improvement. It will be useful...
Insurers resist change

The fact that most New Zealand businesses are served by insurance brokers has been quoted as a major reason why the country’s existing duty of disclosure law should remain in place for commercial clients. The Insurance...

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