The wildfires that swept over the Port Hills of Christchurch in February has cost insurers $17.7 million dollars, the Insurance Council of New Zealand reported today. Two separate fires, several kilometres apart, started on 13 February and by 15 February the fires had combined to one large area. Provisional data released today show that $10.2m …
With up to 300mm expected to hit Bay of Plenty in the 72 hours from midday Wednesday, on an already saturated region, the Insurance Council of NZ is urging people in the region and throughout the country to be prepared for flooding. “We want to help communities to reduce the risks they face. If you …
INSURANCE ADVISORY: EASTER HEAVY RAIN EXPECTED FOR BOP 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. Most home policies as well as contents policies provide cover for temporary accommodation. Each policy wording will differ so people should check with their insurer. Tim Grafton, Insurance Council …
EDGECUMBE INSURANCE ADVISORY: TEMPORARY ACCOMMODATION Read More »
With more heavy rain expected today and tomorrow as a result of the remnants of Cyclone Debbie, the Insurance Council of NZ is urging people in the North Island to be prepared for flooding. “We want to help communities to reduce the risks they face. If you can get as much of your home contents …
RISK REDUCTION INSURANCE ADVISORY: NORTH ISLAND HEAVY RAIN Read More »
The Insurance Council of New Zealand welcomes the review of the legislation that regulates insurers that was announced today. The Reserve Bank of New Zealand is the prudential supervisor of insurers in New Zealand and operates under the Insurance Prudential Supervision Act (IPSA) with the purpose of promoting a sound and efficient sector and promoting …
Private insurers plan to have made the majority of cash settlement offers by the end of the year for all commercial and residential claims. The 14 November earthquake was not only the most complex of its type, but gave rise to one of the most expensive insured events anywhere in the world in 2016. In …
MAJORITY OF NOVEMBER 2016 EARTHQUAKE CLAIMS TO BE COMPLETE BY YEAR END Read More »
The Insurance Council of NZ advises people affected by flood damage with the weather related events in the Upper North Island to contact their insurer as soon as possible. “After keeping yourself safe, taking photographic evidence of the flooding and damage to your property will help with your claims assessment and if you need to …
INSURANCE ADVISORY: FLOODING IN UPPER NORTH ISLAND Read More »
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 …
INSURANCE COUNCIL ASKS DUNNE TO COME CLEAN ON FUNDING EMERGENCY SERVICES Read More »
The Insurance Council of New Zealand released today its first Fair Insurance Code annual report of the number of claims received, the number of complaints made to internal and external dispute resolution schemes, along with the number of significant breaches. Insurance Council Chief Executive Tim Grafton said “Fourteen upheld complaints out of over 1.12 million …
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 …
INSURERS SETTLE $2.7 BILLION CANTERBURY CLAIMS IN 2016 Read More »
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