Brokers lift lid on Contracts of Insurance Bill and CoFI Act
Big changes are coming for the standards and definitions in New Zealand’s insurance contracts, some of which are more than 100 years old. The Contracts of Insurance Bill is expected to become law by the end of the...Initiatives released to improve cyber resilience
A new report from New Zealand’s National Cyber Security Centre (NCSC) has identified critical gaps in the cybersecurity readiness of small and medium-sized enterprises (SMEs) across the country. The “SME Cyb..."We've done some things right," says insurance head
The New Zealand insurance market is on the front line of extreme natural catastrophe risks. Has this experience pushed the country’s insurance professionals ahead of the curve? What can global insurance firms learn from the way br...
"I'd say start small and be pragmatic"
As businesses increasingly prioritize sustainability, risk managers find themselves at the forefront of a critical challenge: ensuring that supply chains are not only resilient but also aligned with environmental, social, and governance...Is there enough competition in the NZ market?
In New Zealand, the general insurance market is dominated by two major players: IAG New Zealand and Suncorp New Zealand. A report from interest.co.nz has prompted a discussion around whether there is enough competition in the insurance...Key trends in the sector are explained
The global market for hybrid and electric vehicle (EV) insurance is expected to grow at a compound annual growth rate (CAGR) of 16.88% by 2030, according to a recent analysis by HTF Market Intelligence. This growth...Huge proportion of insurance CEOs want a "robust regulatory framework"
The insurance industries in both Australia and New Zealand are grappling with artificial intelligence (AI) technologies and how to use them effectively, safely and compliantly. However, in each country, the approach to AI from the...And reinsurers are taking a step back
As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend...Digging into the factors behind rising 'earnings perils'
In its most recent analysis, Moody’s Ratings revealed that its outlook for the global reinsurance sector has shifted to a positive ranking. In a media briefing discussing the analysis, Brandan Holmes (pictured left), VP-senior...The RBNZ has “cut to the chase” with the first rate cut in over 4 years. Is t...
The RBNZ surprised many market participants by coming through with a 25bps rate cut. We have said for several months, including our 2024 predictions at the start of the year, that central bank would need to go earlier that most were...
