Insurance Council of New Zealand Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/insurance-council-of-new-zealand/ Thu, 20 Nov 2025 09:17:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 ICNZ welcomes move to leave natural hazards levy unchanged https://insuranceasianews.com/icnz-welcomes-move-to-leave-natural-hazards-levy-unchanged/ Thu, 20 Nov 2025 05:45:34 +0000 https://insuranceasianews.com/?p=205052 The levy, collected by insurers on behalf of the government, helps ensure the Natural Hazards Commission (NHC) is funded to provide basic cover for natural disasters such as earthquakes, landslides and flooding.

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The Insurance Council of New Zealand (ICNZ) has welcomed the government’s decision to leave the Natural Hazards Commission (NHC) levy unchanged, amid ongoing concerns around the cost-of-living.
The le...

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]]> New Zealand insurers’ GWP grows 8.6% to US$6.4bn, COR improves to 78.6%: ICNZ https://insuranceasianews.com/new-zealand-insurers-gwp-grows-8-6-to-us6-4bn-cor-improves-to-78-6-icnz/ Wed, 30 Apr 2025 09:35:24 +0000 https://insuranceasianews.com/?p=189490 Following the impact of the Auckland Anniversary Weekend floods and Cyclone Gabrielle in 2023, premiums stabilised in 2024 as global reinsurance rates and inflation eased, the Insurance Council of New Zealand said.

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New Zealand insurers reported NZ$10.8 billion (US$6.4 billion) in GWP in 2024, an 8.6% improvement from the previous year, according to annual statistics released by the Insurance Council of New Zeala...

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]]> New Zealand’s Otago flood insured losses hit US$19.4m, top 2015 floods https://insuranceasianews.com/new-zealands-otago-flood-insured-losses-hit-us19-4m-top-2015-floods/ Fri, 21 Feb 2025 03:49:28 +0000 https://insuranceasianews.com/?p=176854 Insurance Council of New Zealand data shows 1,920 private insurance claims were made following the deluge which hit at the start of October.

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Insured losses from last year’s storm in Dunedin and across the southeastern Otago region on New Zealand's South Island have reached an estimated NZ$33.8 million (US$19.4 million).
Data from Insurance...

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]]> Insured losses from 2 of New Zealand’s most destructive nat cats top US$2.1bn: ICNZ https://insuranceasianews.com/economic-losses-of-new-zealands-two-most-destructive-nat-cat-reach-us8-2-bn/ Fri, 14 Feb 2025 05:32:38 +0000 https://insuranceasianews.com/?p=176192 Auckland Anniversary Weekend floods and Cyclone Gabrielle in 2023 resulted in over 118,000 insurance claims.

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Insured losses from the two most devastating severe weather events ever recorded in New Zealand totalled around NZ$3.8 billion (US$2.1 billion), according to a report from the Insurance Council of New...

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]]> General insurers’ bodies urge heads of Commonwealth nations to discuss extreme weather impact https://insuranceasianews.com/general-insurers-bodies-urge-heads-of-commonwealth-nations-to-discuss-extreme-weather-impact/ Mon, 21 Oct 2024 21:00:18 +0000 https://insuranceasianews.com/?p=165236 The four associations agreed that as extreme weather intensifies, populations expand and more homes are put in harm’s way, the insurance protection gap will widen.

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The Association of British Insurers (ABI), the Insurance Bureau of Canada (IBC), the Insurance Council of Australia (ICA) and the Insurance Council of New Zealand (ICNZ) have jointly written to the Pr...

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]]> ICNZ calls on law changes to stop building in “dumb places” https://insuranceasianews.com/icnz-calls-on-law-changes-to-stop-building-in-dumb-places/ Mon, 30 Sep 2024 09:54:15 +0000 https://insuranceasianews.com/?p=163845 The government has outlined its plans to replace the Resource Management Act, with changes that will provide the ability to decline land use consents, or attach conditions where there are significant risks from natural hazards.

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The Insurance Council of New Zealand (ICNZ) has urged the government to ensure that the proposed changes in Resource Management Act (RMA) help protect local communities by avoiding building in dumb pl...

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]]> Government and private sector need faster progress on climate change: ICNZ https://insuranceasianews.com/government-and-private-sector-need-faster-progress-on-climate-change-icnz/ Mon, 09 Sep 2024 09:40:09 +0000 https://insuranceasianews.com/?p=162379 The council urges more coordinated efforts on addressing climate change as Auckland floods and Cyclone Gabrielle's US$8.9bn infrastructure damage underlines their impact on lives and property.

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The Insurance Council of New Zealand (ICNZ) is urging coordinated efforts by the government and private sector to speed up progress on addressing climate change given its significant impact on lives a...

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]]> ICNZ calls for proactive approach on climate adaptation https://insuranceasianews.com/icnz-calls-for-proactive-approach-on-climate-adaptation/ Tue, 16 Jul 2024 06:45:15 +0000 https://insuranceasianews.com/?p=158224 The council has urged the government to take a leadership role on climate adaptation and build New Zealand’s resilience against the impact of climate change on lives and property. 

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The Insurance Council of New Zealand (ICNZ) has called for a proactive approach by the country’s government on climate adaptation, according to a statement issued by the council.
ICNZ or Te Kāhui Inih...

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]]> ICNZ calls for nat cat safeguards in Fast Track Approvals Bill for infrastructure development https://insuranceasianews.com/icnz-calls-for-nat-cat-safeguards-in-fast-track-approvals-bill-for-infrastructure-development/ Tue, 11 Jun 2024 07:17:55 +0000 https://insuranceasianews.com/?p=155648 The bill should not give green light to projects that expose communities to excessive financial and physical natural hazards risks, the industry body said in a submission to the government.

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The Insurance Council of New Zealand (ICNZ) has called for further safeguards and checks on natural hazard risks in the Fast-Track Approvals Bill to bolster resilience and ensure development projects ...

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]]> Insurance Council of New Zealand widens complaints reporting to boost transparency https://insuranceasianews.com/insurance-council-of-new-zealand-widens-complaints-reporting-to-boost-transparency/ Mon, 25 Mar 2024 06:04:20 +0000 https://insuranceasianews.com/?p=149293 Customers should expect their insurers to maintain high standards and have in place robust processes, backed by external oversight, for handling complaints, ICNZ chief executive said.

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The Insurance Council of New Zealand  (ICNZ) has introduced more detailed reporting for insurance complaints in a move to provide greater transparency and enforce trust between insurers and their clie...

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