News
Insurance brokers call for centralised register of properties with Section 72 hazard notice
1+ hour, 19+ min ago (483+ words) The Insurance Brokers Association of New Zealand (IBANZ), the industry's lobby group, is calling for a centralised register of properties impacted by a hazard warning called a Section 72 notice. Councils can place a Section 72 notice on a property's record of…...
Mandatory home warranties: Positive signs of 'potential increased competition"
20+ hour, 32+ min ago (619+ words) There's interest from Australia to potentially bring new warranty products into New Zealand given the country's building consent system'is set to undergo major change, a Ministry of Business, Innovation and Employment (MBIE) manager says. Alongside this, underwriters from London and…...
RBNZ wants more focus from banks on insurance cover over a loan's duration, rather than just at the start
1+ mon, 3+ week ago (529+ words) The Reserve Bank wants banks to have a much broader sense of insurance coverage across their loan portfolio, its acting Assistant Governor of Financial Stability Angus Mc Gregor says. Banks are very engaged on these issues at the time that…...
Government launches six-month review into home insurance costs and affordability
4+ mon, 3+ week ago (1368+ words) The Government is launching a six-month review into home insurance affordability and costs. Finance Minister Nicola Willis and Commerce and Consumer Affairs Minister Scott Simpson are directing the Council of Financial Regulators and government agencies to work with the insurance…...
More people complaining about their insurance
11+ mon, 1+ week ago (371+ words) More people are making official complaints when problems with their insurance providers come up, with the Insurance & Financial Services Ombudsman (IFSO) scheme accepting a record number of disputes in the past year." From July 1 2024 to June 30 2025, the IFSO took on…...