The Annual Insurance Industry Review 2006 - 07

Notable Council Activities 2006/07

The Council made submissions to government on:

Business Law Reform Bill
Unit Titles Act 1972
Residential Tenancies (Damage Insurance) Amendment Bill
Property Law Bill
Insurance and the Human Rights Act 1993.
Financial Intermediaries
Review of Financial Products and Providers
Compulsory Vehicle Immobiliser. Whole of Vehicle marking schemes.

Seminars and workshops held during the year:

Marine Workshop
Credit Contracts and Consumer Finance Act 2003
Finance Committee Seminar
IFRS Workshop
Flood Impact Seminar
Insurance Investigators Seminars
Fraud Seminar.

Other activities included:

Fire Service Levy Working Group recommendations completed
Presentation to N Z Water & Wastes Assn Conference
Review of Rental Vehicle Loss of Use Guideline Figures
IUMI statistical returns
Formal meeting with ICNZ Marine Surveyors
Policy paper Joint Hull Committee [London market]
Attended IUMI Conference, Tokyo
Industry paper on Building Act's Earthquake-prone dangerous and insanitary buildings policies
Revision of the ISO’s Terms of Reference for Small Business
Presentation to the Disputes Tribunal Annual Conference
Revision of the Uninsured Motorist Extension [UME]
Updated website covering Motor - Occasional Business Use
Disaster preparedness programme completed
Media and industry liaison during the June snowstorm events
Presentations to members on industry activities
Updated MD and BI Advisory Core Wordings
The Fair Insurance Code updated
The introduction of an industry-wide policy of zero tolerance of insurance fraud
4th Annual Remuneration Survey completed
Continuing ICNZ representation on ANZIIF
Financial Services Sector Qualification Development
Introduction of a paperless direct debits pilot scheme
Surveys on non and under-insurance in NZ
Completed Review of the ICNZ Membership application process
Tax Deductibility of Risk Margins - continuing work with the IRD
Insurance Claims Register updated
Assisting Ministry of Foreign Affairs and Trade with Travel Smart website
Meetings with wide range of MPs on issues of priority in our Strategic Plan
Extensive ICNZ media presence on TV, radio, newspaper and Internet
Completed economic impact paper on Fire Service levies
Extensive presentations to business, media and education groups.

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