Private insurers are confident that the majority of Kaikōura earthquake and Edgecumbe flood settlement offers will be complete by year-end the Insurance Council of New Zealand reported today. Insurance Council of NZ Chief Executive Tim Grafton said “2017 has been a huge year for New Zealand with earthquakes, floods and fires hitting us hard.  Private …

MAJORITY OF KAIKŌURA AND EDGECUMBE INSURANCE SETTLEMENTS COMPLETE BY YEAR-END Read More »

The Insurance Council of New Zealand is warning Wellington homeowners to quake check their houses after new research reveals not enough is being done by homeowners to check their biggest asset for earthquake vulnerabilities. Wellington homes are generally older than the national housing stock which makes them more vulnerable to earthquakes.  Wellington is more vulnerable …

WELLINGTON HOMEOWNERS URGED TO CHECK FOR EARTHQUAKE VULNERABILITIES Read More »

Future governments must pass legislation to clarify how they will treat uninsured property owners after natural catastrophes says the Insurance Council of New Zealand.    “The settlement in the Quake Outcasts case announced yesterday raises concerns that people may not insure their properties.  While it is positive that the offer was for less than 100 percent …

QUAKE OUTCASTS DECISION UNFAIR TO PEOPLE WHO INSURE Read More »

Ten days of snow, rain wind and flooding in July has caused $31 million damage to people’s homes, contents, businesses, boats and motor vehicles the Insurance Council of New Zealand reported today. The 12-14 July nationwide snow, rain and wind cost insurers $10.3 million followed closely by nationwide flooding between 20 and 22 July costing …

JULY WEATHER COSTS INSURERS $31M Read More »

The Insurance Council of New Zealand today firmly rejected Labour’s plans to set up an Arbitration Tribunal against insurers in Christchurch. “This is a misconceived, poorly thought through seat-of-the-pants policy that runs rough shod over natural justice” said Insurance Council Chief Executive Tim Grafton. “Insurers have been at pains to settle claims in Canterbury as …

INSURANCE COUNCIL REJECTS LABOUR’S CHRISTCHURCH EARTHQUAKE ARBITRATION TRIBUNAL Read More »

The two cyclones that swept through New Zealand during April and caused residents of Edgecumbe to be evacuated has resulted in insured costs of $109 million the Insurance Council of New Zealand reported today. Provisional data released in June had 8,043 claims costing $84.4 million and the final data has now upgraded claims to 9,186 …

CYCLONES DEBBIE AND COOK INSURED COSTS UPGRADED TO $109M Read More »

The Insurance Council of New Zealand (ICNZ) today urged residential Canterbury customers to contact their insurer if they have an outstanding 2010/2011 earthquake claim and are unsure on how the Limitation Act will affect them. Back in 2015, ICNZ advised Canterbury residents that the main residential private insurers would not rely on the Limitations Act …

CANTERBURY CLAIMANTS SHOULD CONTACT INSURER Read More »

The Insurance Council of New Zealand is supporting the decision by the Government to exempt travel insurance and insurance on certain types of property from having to pay the Fire Service Levy. “While we oppose the policy of taxing people who insure themselves to pay for the public good provided by Fire and Emergency New …

INSURANCE COUNCIL SUPPORTS EXEMPTIONS FROM FIRE SERVICE LEVY Read More »

The Insurance Council of New Zealand says the Parliamentary Commissioner for the Environment’s recommendations on long-term planning for climate change fell short in not dealing with how New Zealand should adapt to climate change. “The Commissioner’s report Stepping Stones to Paris and Beyond borrows extensively from the United Kingdom’s approach to addressing how to mitigate climate change.  …

HOW NEW ZEALAND ADAPTS TO CLIMATE CHANGE NEEDS STRONGER PUSH Read More »

The Insurance Council of New Zealand advise people who have uninhabitable homes due to flood damage to contact their insurer directly for help with temporary accommodation. “Reports in today suggest that some people may be displaced from their homes for quite some time and in some areas of the South Island it may take two …

FLOOD INSURANCE UPDATE: TEMPORARY ACCOMMODATION Read More »