Media Releases

INSURANCE COUNCIL ASKS DUNNE TO COME CLEAN ON FUNDING EMERGENCY SERVICES

The Insurance Council of New Zealand is asking Internal Affairs Minister and United Future Leader to come clean about how he would fund a national emergency response service.  “Mr Dunne is currently proposing a 40% increase on 1 July in the tax that people who insure their properties pay to fund the merger of New …

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INSURERS SETTLE $2.7 BILLION CANTERBURY CLAIMS IN 2016

The Insurance Council of New Zealand announced today that private insurers have paid out nearly $2.7 billion in 2016 to settle commercial and residential claims resulting from the 2010 and 2011 Canterbury earthquakes.   Of the $2.7 billion, $1.6 billion was for domestic claims and $1.1 billion was commercial claim payments. In 2016 private insurers settled …

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KAIKOURA EARTHQUAKE BUSINESS CLAIMS REACH $900 MILLION

The Insurance Council of New Zealand announced today that private insurers have received business claims valued at more than $900 million from the 14 November 2016 Kaikoura earthquake.  Insurance Council Chief Executive Tim Grafton said “it is early days and the figures may change but indications are that there are more than 2,500 commercial material …

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SIMPLER PROCESS FOR SETTLING KAIKOURA EARTHQUAKE CLAIMS

An agreement between private insurers and the Earthquake Commission (EQC) will simplify how home and contents insurance claims are resolved for people affected by the Kaikoura Earthquake. Under the agreement, private insurers will act as EQC’s agents and receive, assess and settle home and contents claims for earthquake damage from their own customers, even those …

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FAILURE TO COMPLY WITH STANDARDS A LIKELY CAUSE OF WELLINGTON COMMERCIAL BUILDING DAMAGE

The Insurance Council of New Zealand believes a significant cause of damage to commercial property buildings following the 14 November Kaikoura earthquake series is a failure to comply with non-structural, seismic restraint guidelines.  Non-structural, seismic restraints hold air conditioning, fire-sprinkler, telecommunication, electricity systems, lighting and ceiling support systems in ceiling cavities and other parts of …

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EARTHQUAKE INSURANCE ADVISORY: TEMPORARY ACCOMMODATION

The Insurance Council of New Zealand advise people who have uninhabitable homes due to earthquake damage to contact their insurer directly for help with temporary accommodation. Most home policies as well as contents policies provide cover for temporary accommodation and emergency evacuation.  Each policy wording will differ so people should check with their insurer. Tim …

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AVAILABILITY OF NEW INSURANCE FOR HOUSE PURCHASES POST 14 NOVEMBER EARTHQUAKE

The Insurance Council of New Zealand advised today that insurers are working hard to minimise any disruption to the availability of insurance for people putting offers in on houses. Following the 14 November 2016 earthquakes, there has been some disruption to the availability of insurance for people seeking new or increased insurance cover. Globally it …

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