Articles tagged with Insurance
Minister Brooke van Velden Calls for Review of Fire and Emergency NZ Funding Model
2 days ago | 83 viewsMinister Brooke van Velden has requested the Department of Internal Affairs to review the current insurance levy system funding Fire and Emergency New Zealand (FENZ), as 95% of its income comes from property insurance levies established in 1975. Given FENZ's expanded role beyond fire-related incidents to include medical emergencies and disasters, and the fact that only 59% of recent incidents were fire-related, there are concerns about the fairness and suitability of the existing funding model. The review will explore potential improvements and alternatives, considering issues like free-riding and implementation feasibility, without affecting the new levy rates set from July 2026.
Tags: Brooke van Velden Fire and Emergency New Zealand Department of Internal Affairs Fire Service levy Fire and Emergency New Zealand Act 2017 insurance levy FENZ fire incidents levy payersGovernment Introduces New Building Consent Reforms to Protect Owners and Boost Productivity
6 months ago | 605 viewsThe Government is reforming the building consent system by replacing joint and several liability with proportionate liability, ensuring each party is only responsible for their own work to speed up consents and protect ratepayers. New safeguards include mandatory professional indemnity insurance for designers, compulsory home warranties for most new residential builds and significant renovations, and strengthened disciplinary penalties for Licensed Building Practitioners. These measures aim to enhance accountability, protect building owners, and make the building process faster, easier, and more affordable, with legislative changes expected by 2026.
Tags: Chris Penk Licensed Building Practitioners Ministry of Business Innovation and Employment Building Amendment Bill New Zealand Government Building and Construction Minister Building Act Home warranty Professional indemnity insurance Building consent systemCommerce Minister Scott Simpson Strengthens NZ Partnerships in London
9 months ago | 752 viewsCommerce and Consumer Affairs Minister Scott Simpson is traveling to London to enhance New Zealand's partnerships in insurance, emergency preparedness, and business competition. He aims to showcase New Zealand's leadership in resilience and disaster recovery and strengthen ties with global partners facing similar challenges. The Minister's itinerary includes meetings with key industry players, a briefing at the New Zealand High Commission, and participation in events highlighting the New Zealand-UK relationship, such as the Battle of Britain Service and the Women's Rugby World Cup semi-final.
Tags: Scott Simpson London New Zealand Insurance Emergency preparedness Business competition Resilience Disaster recovery Aon Lloyd's of London