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Another professional insurance organisation for...

A new insurance organisation hopes to fill a gap in the market for underwriting agents. The New Zealand Underwriting Agencies Council has been set up to cater for what it says are underwriting agents’ unique issues and...

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Suncorp offers support to customers

Suncorp New Zealand reported a $2 million profit drop in the year to June. The New Zealand arm of the insurance company announced a net profit after tax (NPAT) of $259 million, down from $261 million a year earlier. The result...

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Insurers can help world recover from Covid

Lloyd’s, the world’s insurance and reinsurance market, says there are a number of ways the insurance industry could fast-track global economic and societal recovery from the far-reaching impacts of Covid-19. These inclu...

Humans of NZI

NZI’s own home brewing ironman

What started as a school project on insurance has transformed into a long-sta...

  "I’ve got an inquisitive mind and I didn’t understand what insurance meant back then. That fuelled a big interest for me, as the more I read about it, I wanted to learn more."  Chris...

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CoFi heralds a new era for insurers

The Conduct of Financial Institutions Bill is set to change the way insurers ...

In September last year, consumer affairs minister Kris Faafoi unveiled plans for a new conduct regime for the financial services sector. The reforms, launched off the back of Australia’s damaging Royal Commission into financial...

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Lloyd’s warns intangible assets at risk

Intangible assets are an increasing proportion of companies’ balance sheets, already accounting for as much as 85% of the total business value across industries according to estimates. With the acceleration of digital business...

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After Covid, what next?

The pandemic has changed the way we distribute insurance. Now it’s for the in...

The Covid-19 crisis has profoundly affected the insurance world. Physical distancing and other lockdown measures have already shifted activities once considered critical to conduct in person to online. This change will affect...

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Suncorp first to adopt renewable energy project

Suncorp New Zealand is the first New Zealand insurer to adopt Meridian Energy’s 100% Certified Renewable Energy product.  As of July 1, nearly 100% of Suncorp New Zealand’s electricity will be...

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IAG’s Craig Olsen to become ICNZ president

IAG chief executive Craig Olsen is taking over from Paul Smeaton as president of the Insurance Council. Smeaton has returned to Australia to take a senior role with Suncorp. “I want to acknowledge Paul’s valuable...

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IAG outlines FY20 results

IAG today provided an update on its results for the year ended 30 June 2020 (FY20), within which it expects to report: Gross written premium (GWP) growth of around 1%, consistent with the ‘low single digit’ guidance...

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Vero survey shows small businesses are keen for...

New research released by Vero Insurance this week shows nearly two thirds of New Zealand’s small and medium enterprise owners and decision makers (SMEs) want insurance advice following the Covid-19 crisis.  Most wanted...

PIQ College

Here’s how to burst your bubble

Going back to ‘normal’ may not be as easy as you expect By Rod Severn

I need to practice social distancing…from my refrigerator! Here at the Professional IQ College we used to only worry about Level 5. Now we have a whole new range of levels to be concerned about.  Still, most...

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GST payable on insurance proceeds received by t...

By Andrew Ryan and Simon Akozu, Minter Ellison Rudd Watts

Inland Revenue has confirmed that a third party claimant who is GST-registered can be liable for GST where they receive a payment from an insurer in settlement of an insured person’s liability. This applies irrespective of...

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Regulatory changes on the horizon

By Jeremy Muir, Maria Collett-Bevan, Minter Ellison Rudd Watts

Conduct of Financial Institutions Bill The Government has made it clear that ensuring that financial institutions’ “conduct and culture” result in good outcomes for all customers is a priority, following...

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Insurers tackle Covid-19

Fewer claims, more hardship – insurance companies navigating pandemic are in ...

Insurers are used to crises: earthquakes, floods, fires and accidents. But this year’s pandemic has thrown a new set of challenges at New Zealand’s insurance industry. Insurers have had to grapple with the...

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