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2018 Natural Disasters top US$71B

Major natural catastrophes caused approximately $71.5 billion in insured losses in 2018, just over half the roughly $120 billion of insured losses from 2017 but just slightly above the $65.5 billion average of losses since 2011, accordi...
Focus on duty of disclosure

Duty of disclosure is an issue that promises to be carefully examined in the government’s ongoing insurance contract law review, with many industry players stating that a reform of current laws is well overdue. But what exactly is...
70% say risk based pricing is fair

A large majority of New Zealanders, 70%, believe that risk-based pricing is a fair way to pay for insurance, a new survey has revealed. The survey, commissioned by Tower Insurance, comes after its recent announcement that it would ...
Minister seeks answers

Greater Christchurch Regeneration Minister Megan Woods is seeking a "please explain" from government insurer Southern Response after it paid a private investigation firm more than $2000 to review information before it went to...
Court ruling on quake damage

In what could set a precedent a court has ruled earthquake-damaged foundations of a home with a "when new" insurance policy can be "jacked and packed" instead of being replaced. The Fitzgerald Family...
Not if but when

It's not a matter of if the Hikurangi subduction zone will go, it's when - and that's what Kiwi scientists are preparing for. Scientists are developing an emergency response plan to prepare for the...
Affordable cover difficult to sustain

Medical costs in the United States are notoriously expensive, and the uninsured regularly get themselves in debt reaching hundreds of thousands of dollars – if not into the millions. When it comes to New Zealanders travelling...
Frustration for evacuees

Frustration is growing among some St Clair residents unable to return to their homes since they were forced to evacuate last month. Six properties, four in Motu St and two in Allandale Rd, have been off-limits since the Dunedin...
Insurers and AI

This isn’t science fiction. More than three-quarters of insurance executives believe artificial intelligence will revolutionise the industry within a few years. By 2030, according to McKinsey futurists, artificial...
Minister acknowledges slow pace

Commerce Minister Kris Faafoi has acknowledged some financial advisers feel the transition to the new legislative regime is taking some time to achieve. In an update for Financial Advice New Zealand, Faafoi said it might feel as...

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