As the potential of a trans-Tasman travel-bubble becomes more likely, the Insurance Council of New Zealand has today issued clarification on changes to travel insurance in response to the global pandemic COVID-19. Tim Grafton, CE Insurance Council of New Zealand (ICNZ), says the sector has responded to the new reality of global travel amid …
TRAVEL ADVISORY: WHAT YOU NEED TO KNOW ABOUT COVID-19 TRAVEL INSURANCE Read More »
A landlord policy is similar to a home policy in many ways but has been designed to also reduce the financial impact of loss or damage arising from additional risks that renting out your house brings. Some options included under landlord policies are things like: Different insurance companies have different policies, with different limits they …
Navigating the turbulence of a global economic crisis requires insurers to maintain an even ballast between the cargo of customer interests and buoyant solvency. In New Zealand, rated one of the riskiest for its size, the challenge is arguably more difficult. Next week’s Budget may shine more light on the economic outlook. Treasury’s scenarios to …
THE CRITICAL ROLE OF INSURANCE IN NAVIGATING THE ECONOMIC CRISIS AHEAD Read More »
As New Zealand moved to Alert Level 3 last week (28 April) the ability to undertake non-essential repairs were able to get underway. To ensure these repairs comply with tighter health and safety requirements, a number of additional measures have been put in place by collision repairers to protect both their staff and customers. These …
INSURER SUPPORT COLLISION REPAIR INDUSTRY DURING LEVEL 3 Read More »
Since early March, our members have worked proactively to support their customers facing the unique challenges New Zealand’s response to COVID-19 has presented. All have ensured they are fully open for business and have worked to keep New Zealanders and their assets protected by easing the financial pressures they faced. ICNZ’s members have each implemented …
INSURERS COVID-19 SUPPORT FOR SME AND COMMERCIAL CUSTOMERS Read More »
From 28 April New Zealand will move into Alert Level 3 as part of its response to COVID-19. So, what does this mean for insurers? As an essential service provider, insurers have been open and helping customers throughout the Level 4 restrictions. Our members responded quickly, scaling up their work from home capacity to protect …
The Insurance Council of New Zealand (ICNZ) welcomes the announcement from Finity Consulting that savings on personal motor claims will amount to approximately $35 million during the four-week Level 4 period. Tim Grafton, CE ICNZ, says the independent actuarial analysis of the situation provides a balanced view in contrast to initial speculation last week that …
ICNZ CLARIFIES EXTENT OF COVID-19 IMPACT ON MOTOR INSURANCE Read More »
The Insurance Council of New Zealand says that contrary to some reports the insurance industry acted fast and early to actively support its customers facing increased financial hardship. “Since March, our members have ensured they are fully open for business and have worked to keep New Zealanders and their assets protected by easing the financial …
ICNZ REAFFIRMS PROACTIVE STEPS OF INDUSTRY TO SUPPORT ITS CUSTOMERS Read More »
ICNZ supports the move by the Government to provide a ‘safe harbour’ for directors of companies facing significant liquidity problems due to COVID-19 pandemic. The move is part of wider temporary changes being made to the Companies Act announced by the Government last week. Tim Grafton, ICNZ CE, says the proposed changes will allow companies …
ADVISORY: ICNZ WELCOMES GOVERNMENT STEPS TO PROVIDE LIABILITY RELIEF FOR DIRECTORS Read More »
The Insurance Council of New Zealand is encouraging people experiencing financial hardship to contact their insurer to discuss options to keep their insurance in place. A priority for customers is to keep their assets protected and insurers are there to help them do that. Insurance reduces financial shocks when the worst happens, and even in …
INSURANCE SUPPORT AVAILABLE FOR THOSE EXPERIENCING FINANCIAL HARDSHIP DUE TO COVID-19 Read More »
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