IFSO Case Study
Mr and Mrs Chen* held insurance on their house. In January 2023, the Auckland region was affected by widespread flooding, and the house was damaged as a result. Mr and Mrs Chen made a claim to their insurer for the damage. ...
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In years gone by, New Zealand was often jokingly referred to as the land of sheep, with around 10 of them for every person. While the number of sheep has dropped in the last few years to a ratio of five to one, we are still a nation tha...
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Dentons recently provided this update on the Contracts of Insurance Act 2024
On 15 November 2024, the Contracts of Insurance Bill received royal assent. The new legislation modernises and consolidates existing insurance laws. It is intended to promote the confident and informed participation of insurers, ...
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The swift development of AI has resulted in the increasing integration of AI technology in insurance claims management and insurance underwriting. In certain cases, AI has been used by insurers to streamline administrative work to...
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Gallagher New Zealand’s latest market update signals a trend toward a softer commercial insurance market, following an extended period of premium growth. The report, released in November, indicated that premium hikes are...
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Report highlights preparedness initiatives and renewed focus
New Zealand’s Natural Hazards Commission Toka Tū Ake (Natural Hazards Commission, or NHC) has issued its final annual report under its new name following its rebranding from the Earthquake Commission (EQC). The report...Feature
Willis Towers Watson (WTW) has released a new report exploring the potential for historic loss data to help financial institutions narrow gaps between perceived and actual operational risks. Part of the firm’s...
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The peak bodies representing personal and business insurers in the United Kingdom, Canada, Australia and New Zealand called on Commonwealth leaders at the recent Commonwealth Heads of Government Meeting (CHOGM) in Samoa to discuss...
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Recent research from insurer AMI shows that 73% of small business owners are concerned about cyber security, and one in four say they’ve been affected within the last two years. Despite that concern, more than half of...
