Author name: Patrick O’Meara

Fast Track Approvals Bill needs natural hazards risk protections

The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) is calling for the Fast-Track Approvals Bill to bolster resilience and ensure development projects safeguard people and property against natural hazard risks such as flooding. “We acknowledge the purpose of the Fast-Tack Approvals Bill to deliver faster infrastructure and development projects. We especially …

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ICNZ welcomes Budget 2024 resilience funding

The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) is welcoming additional funding in Budget 2024 to invest in building resilient communities affected by the Auckland Anniversary Weekend flooding and Cyclone Gabrielle events. “The extreme weather events in early 2023 was New Zealand’s second largest natural disaster and caused immense damage and …

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ICNZ welcomes first reading of Contracts of Insurance Bill

The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) has welcomed the first reading of the Contracts of Insurance Bill, saying the overhaul of the legislation is well overdue. “This Bill has been long awaited and I congratulate the Minister of Commerce and Consumer Affairs, Andrew Bayly, for his support and commitment …

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ICNZ endorses call to lift understanding of natural hazard risks

The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) has endorsed findings that New Zealand needs to act decisively around natural hazards risks to ensure insurance is affordable and available in the future. The Reserve Bank yesterday released an excerpt on insurance in its upcoming Financial Stability Report which noted that insurers, …

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