ICNZ welcomes updated NZ insurance laws
New legislation to modernise outdated insurance laws will help protect consumers and provide certainty for insurers, the Insurance Council of
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The portion of your premium that your insurance provider will have calculated to fairly reflect the cover provided and ensure they remain sustainable, so they are there for customers when the unexpected happens. This accounts for roughly 46% of your premium.
Your premium also includes the costs of reinsurance, which is a global market that provides insurance for insurance companies. It accounts for about 20% of your premium.
The Fire and Emergency NZ (FENZ) levy is collected by all insurance companies on behalf of the Government and funds FENZ to deliver fire and emergency services to all New Zealanders. The FENZ levy makes up around 5% of your premium.
The Natural Hazards Insurance (NHI) levy is collected by all insurance companies on behalf of the Government and helps fund earthquake and other natural hazard insurance cover provided by the Natural Hazards Commission (NHC). The NHI levy makes up about 24% of your premium.
The Goods and Service Tax (GST) is a charge that is applied to insurance premiums and paid to the Government. GST makes up around 13% of your premium.
There are many factors that can have an impact on the amount of premium that insurers charge, such as what you’re insuring, your claims history and the cost of those claims, reinsurance rates and levies and taxes set by the government.
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New legislation to modernise outdated insurance laws will help protect consumers and provide certainty for insurers, the Insurance Council of
The peak bodies representing personal and business insurers in the United Kingdom, Canada, Australia and New Zealand have called on
A parliamentary report on climate adaptation is an important signal of the need to urgently tackle the impact of climate
The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) is urging the Government to ensure that its
The Fair Insurance Code clearly
outlines how your relationship
with your insurer should work.
The Annual Review outlines the
activities and achievements of
ICNZ over the course of a year.
The Annual Review outlines the
activities and achievements of
ICNZ over the course of a year.
The Annual Review outlines the
activities and achievements of
ICNZ over the course of a year.
The Annual Review outlines the
activities and achievements of
ICNZ over the course of a year.
The Fair Insurance Code clearly
outlines how your relationship
with your insurer should work.
ICNZ FEEDBACK ON HUD’S LONG-TERM INSIGHTS BRIEFING TOPIC
ICNZ FEEDBACK ON HUD’S LONG-TERM INSIGHTS BRIEFING TOPIC
ICNZ SUBMISSION ON PROPOSED 2024 AMENDMENTS TO CLIMATE AND ASSURANCE STANDARDS
ICNZ SUBMISSION ON PROPOSALS FOR REGULATIONS FOR NATURAL HAZARDS INFORMATION ON LIMS
ICNZ SUBMISSION ON REGULATORY RETURNS FOR FINANCIAL INSTITUTION LICENCEES
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