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Last Article Uploaded: Saturday, July 31st, 9:37AM


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AIA admits to fair dealing breaches - could face $700k fine

Life insurer AIA has admitted to making false and/or misleading representations to customers and could face a fine of up to $700,000 after court proceedings were brought against the company by the Financial Markets Authority (FMA).

Thursday, July 29th, 12:29PM

The case was filed in the High Court in Auckland and alleges three causes of action under the Fair Dealing provisions (Part 2) of the Financial Markets Conduct Act 2013 (the FMC Act).

AIA essentially dobbed itself in to the FMA after being asked to provide information as part of the joint FMA/Reserve Bank of New Zealand conduct and culture review of life insurers in 2018.

AIA has...MORE»

Canstar's top five Kiwi health insurers

Wednesday, July 28th, 3:13PM

According to a recent survey, AA Health Insurance has won this year's Canstar Most Satisfied Customers Award.


How overpaying claims leads to product innovation

Tuesday, July 27th, 9:21AM

Most of the mainstream news media delight in telling people about when an insurer declines a claim. They love it. Insurers are just moustache-twirling financial villains in their eyes.



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Input from insurers on solvency standards

Monday, July 26th, 10:28AM

The New Zealand insurance industry is being asked to have its say on a proposed interim Solvency Standard for insurers, which will determine the minimum amounts of capital insurers must hold.


Underwriting delays for nib special offer

Friday, July 23rd, 11:57AM

A recent nib New Zealand campaign offering cover for pre-existing medical conditions has been the victim of its own success with advisers being asked not to supply clients medical notes due to underwriting delays.


The FSPR is moving in directions we haven’t discussed

Tuesday, July 20th, 12:24PM

The industry has been watching the ups and downs of the Financial Service Providers Register (FSPR) like a hawk, and it seems we are finding the data somewhat less helpful than we anticipated.


AIA grant helps Tools Down with tradies' mental health

Monday, July 19th, 11:53AM

A new mental health awareness platform Tools Down has been launched to raise awareness of mental health and suicide rates among Kiwi tradies with help from an AIA grant.


Cigna scholarship boost for aspiring actuary

Wednesday, July 14th, 12:03PM

Declan Barrett, a Victoria University of Wellington student, has been awarded the 2021 Cigna Victoria University Actuarial Scholarship.



Insurance Briefs

Flood claims cost almost $45 million
Insurance customers in the Canterbury region lodged 3,538 claims costing over $43.8 million in losses following the May 29 - June 1 floods according to provisional figures released by the Insurance Council of New Zealand (ICNZ).

AIA Vitality partners with Countdown and New Balance
AIA NZ has announced further enhancements to AIA Vitality in the lead up to the second anniversary of its flagship health and wellbeing programme in New Zealand.

ICNZ launches te reo Maori title
The Insurance Council of New Zealand has embraced one of the country's official languages after launching its te reo Maori name - Te Kāhui Inihua o Aotearoa.

EQC offloads disaster claim management to Kiwi insurers
From the end of June, New Zealanders will have a single point of contact for natural disaster claims with the EQC handing over management of claims to eight local insurers.

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