tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, August 11th, 8:36AM

Blogs

rss
Latest Headlines

Financial triage

Monday, March 14th 2011, 9:49AM

by Darrin Franks

In the immediate aftermath of the catastrophic earthquake of February 22, emergency triage centres were set up for injured survivors at key points in the stricken city, among them Latimer Square, Canterbury University and the Sanitarium factory in Papanui. As rescue workers and medical staff carried out their brave and laudable work, attention began to turn to a different kind of triage: emergency financial help for those now without homes and jobs. Over the first three days after the quake, more than 6,000 grants (not asset- or means-tested) totaling more than $1 million were made by WINZ staff to survivors in need of Civil Defence support. Social Development Minister Paula Bennett said there was no limit to the number of grants people could get for emergency expenses. And, with Earthquake Minister Gerry Brownlee calling February 22 “one of the biggest insurance events in the world,” (130,000 claims to the EQC are expected, on top of the 181,000 claims that followed the September 4 earthquake), the government conspicuously turned its attention to the role of insurers in supporting Cantabrians. The Prime Minister, interviewed on Newstalk ZB on February 28, made it clear that the government was not shying away from putting pressure on insurers to pay out more swiftly. He was quick to praise banks for their rapid response to customer needs, but less effusive about insurers, agreeing with Mike Hosking that when it came to matters such as key person and business continuity insurance, “the issue can be the timing of payments.” By this time AIA New Zealand was already on record as to our process for handling claims emerging from February 22. We quickly established a Christchurch claims committee, and are processing all disaster-related claims as a matter of urgency. In times of crisis, it is not just government, social and emergency agencies that must step up; business has as critical a role to play in the ‘first’ triage response as any other party. (Companies such as Fonterra and Air New Zealand have responded with alacrity, and Fonterra chief Andrew Ferrier has spoken eloquently about the social responsibilities of business, that exist independently of concerns for the bottom line.) Relevance is all: this is the moment of truth for New Zealand insurers.
« The world after licensingBotherway's bank job »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 6.35 5.25 5.45 5.99
ANZ 6.34 5.59 6.05 6.29
ANZ Blueprint to Build - - - -
ANZ Special - 4.99 5.45 5.69
ASB Bank 6.35 5.25 5.45 5.69
Avanti Finance 6.65 - - -
Basecorp Finance 7.25 - - -
Bluestone 6.89 - - -
BNZ - Classic - 4.95 5.39 5.69
BNZ - Mortgage One 6.39 - - -
BNZ - Rapid Repay 6.39 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 6.39 5.55 5.99 6.29
BNZ - TotalMoney 6.39 - - -
CFML Loans 7.25 - - -
China Construction Bank - 5.35 5.80 5.99
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼4.89 - -
Co-operative Bank - Owner Occ 6.25 ▼4.99 5.39 ▼5.69
Co-operative Bank - Standard 6.25 ▼5.49 5.89 ▼6.19
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 5.35 5.85 -
Heartland Bank - Online 4.60 ▼4.79 5.29 5.39
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.50 5.60 6.00 -
HSBC Premier 6.34 5.09 5.34 5.59
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.00 ▼4.79 5.15 ▼5.69
Kainga Ora 5.85 5.31 5.58 5.97
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 6.00 5.95 6.45 6.79
Kiwibank - Offset 6.00 - - -
Kiwibank Special - 4.95 5.45 5.89
Liberty 4.84 - - -
Lender Flt 1yr 2yr 3yr
Nelson Building Society ▲6.95 5.55 6.15 -
Pepper Money 5.29 - - -
Resimac 5.59 6.54 6.44 6.98
SBS Bank 6.29 ▼5.39 ▼5.79 5.99
SBS Bank Special - ▼4.89 ▼5.29 5.49
Select Home Loans 6.89 - - -
TSB Bank 7.05 ▼5.65 6.09 6.39
TSB Special 6.25 ▼4.85 5.29 5.59
Unity 5.65 4.95 5.55 -
Wairarapa Building Society 6.49 5.55 6.15 -
Westforce credit union - Special - 5.35 5.85 -
Lender Flt 1yr 2yr 3yr
Westforce credit union - Standard 5.85 6.05 6.55 -
Westpac 6.39 ▼5.55 6.05 ▼6.29
Westpac - Offset 6.39 - - -
Westpac Special - ▼4.95 5.45 ▼5.69
Median 6.34 5.33 5.79 5.93

Last updated: 11 August 2022 8:40am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com