The Insurance Council of New Zealand announced today that private insurers have settled 20,000 Canterbury earthquake over cap residential property claims in its latest release of quarterly progress data.  Chief Executive Tim Grafton said “insurers have now fully settled 91% of all Canterbury earthquake residential properties.  This represents 20,000 over cap and 63,000 out of …

INSURERS SETTLED 83,000 CANTERBURY PROPERTIES, INCLUDING 20,000 OVER CAP Read More »

Continuing to tax only those people who pay insurance to fund the fire service is blatantly unfair and well out of step with best policy practice internationally, the Insurance Council of New Zealand said in response to today’s new funding arrangements for the fire service.  Insured people will pay about $300 million in tax above …

FIRE SERVICE FUNDING – DISAPPOINTMENT WITH POOR POLICY, BUT GREATER CLARITY WELCOMED Read More »

Private insurers are on track to settle the vast majority of Canterbury earthquake claims by the end of this year, the Insurance Council announced today.  Nearly 5,400 major repairs and rebuilds were settled in 2015 which reflected a 21% rise in the settlement rate last year compared with 2014.   “Insurers are continuing to make a …

INSURERS SETTLE 20% MORE CLAIMS IN 2015 Read More »