The Annual Insurance Industry Review 2006 - 07

Key objectives for 2007

The Insurance Council has identified key objectives for the insurance industry for the 2007 year. Most significantly:

Government Regulation of Insurance

Develop a set of regulatory standards that are acceptable to the industry, optimise compliance costs and protect the rights of policyholders.

Under Insurance

Encourage more sustainable communities by reducing under and non-insurance levels.

Climate Change

Work with local government, communities and central government to develop our ability to prepare for, cope with and recover from the impact of climate change.

Fire Service Levy

Remove levy from insurers and implement a property-based levy system for the Fire Service.

Law and Order

Reduce burglary and theft claims through the industry’s role in increasing debate on law and order.

Fraud

Develop and implement strategies to address insurance fraud and raise awareness of its dangers.

Image

Generate a greater understanding of the critical role played by the insurance industry in underpinning New Zealand’s society and economy.

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