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On 6 May 2025, the Reserve Bank of New Zealand (RBNZ) published the results from its 2024 General Insurance industry stress test. The purpose of the stress tests was to assess the insurance industry’s ability to respond in the sit...
SPOTLIGHT ON
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Time is ticking for the insurance industry to get ready for the implementatio...
The Contracts of Insurance Act is a new consumer protection law that repeals five Acts currently in force and increases the obligations on brokers and insurers. Speaking to a recent professional development seminar for membe...FSCL Case Study
In March 2020, Tawera* borrowed $16,000 to buy a new family car. Alongside the loan, Tawera purchased a health waiver that was intended to help him if he was unable to make his loan repayments due to sickness, hospitalisation, or termin...
IFSO Case Study
There is a difference between a sudden event and pre-existing damage. Insurers will cover a sudden event that meets the policy’s terms and conditions, but they are not obliged to pay for damage that happened before the policy...
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Kiwi insurer Tower has paid a dividend to investors after posting a strong set of financial results. The group paid an interim dividend with its half-year results in May. Blair Turnbull, Tower CEO, said there an ongoing focus...
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IAG, the owner of State, NZI, and AMI, recorded a drop in New Zealand profit in the year to June as claims volumes increased. The New Zealand business remained highly profitable, however, with strong customer retention and premium...
Opinion
It is fundamental to all insurance that it only covers a fortuity – that is, a loss that is accidental from the insured’s point of view. So, how are the courts to interpret a liability policy that excludes:...
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Claims is a people business, writes Dr. Dexter Morse, former Director Global Insurance & Risk Management at the International Air Transport Association (IATA). There are so many lessons to be learned from the claims department....
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Broking giants Aon and Willis Towers Watson have called off their $US30 billion merger, blaming US regulators for blocking the mega-deal. The two international broking and advisory groups scrapped plans to combine after running...
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More than ever, underwriters are moving towards risk-based pricing. Brokers n...
Insurers in New Zealand are under increasing pressure to avoid over-exposure to natural catastrophes in high risk regions and coast lines up and down the country. As a result, risk-based pricing has come to the fore as underwriters look...
