October’s severe weather has generated about 6,000 claims
The spring storms that swept across New Zealand in October have left a trail of destruction, particularly in rural communities on the South Island. More than 3,300 claims have been lodged with major insurers, including IAG’s NZ br...Insurers report stabilising rates and evolving risk management trends
The New Zealand insurance sector is undergoing a period of transition, with recent analysis from Rothbury Insurance Brokers indicating that the market is moving away from the pronounced premium hikes seen in previous years. ...Broker opening as clients access risk information for property decisions
Brokers be ready to become true risk advisors - because your clients are crying out for more information if new statistics surrounding The Natural Hazards Portal are any indication. Managed by the Natural Hazards Commis...
Industry urges awareness after uninsured families lose possessions
A recent residential fire in Remuera has prompted the Insurance Council of New Zealand (ICNZ) to highlight a significant gap in insurance coverage among migrant households. The incident, which occurred in the early...Climate change and urban growth drive increased flood exposure
A recent nationwide study led by Earth Sciences New Zealand has found that more than 750,000 people in New Zealand currently reside in areas vulnerable to flooding from one-in-100-year rainfall events. Projections...High confidence contrasts with slow response after incidents
Insurance and risk professionals in Australia and New Zealand are reporting high levels of confidence in their organisations’ ability to withstand ransomware attacks, yet recent industry research indicates a significant gap...Insurers adapt to increased claims and market uncertainty
The Reserve Bank of New Zealand (RBNZ) has highlighted that financial stability risks remain elevated, citing a combination of global and domestic factors that continue to influence the country’s financial system. ...Don’t park inside says major manufacturer - hundreds of thousands affected
A claim against auto insurance AND home insurance? A careless driver may be the least of your clients’ worries - that is if they drive certain four-wheel drive models. If you have clients that drive a hybrid Jeep - now might be a...However, market fragmentation and systemic risks persist
Insurance buyers are currently benefiting from some of the most competitive market conditions in recent years, with double-digit rate reductions and abundant capacity across key lines such as property, cyber, and directors and officers...CFOs eye long-term protection strategies
With climate change contributing to more frequent, moderate-loss events, insurers are adopting multi-year spread-loss (MYSL) contracts to distribute catastrophe costs across multiple years, according to a Gallagher Re whitepaper....
