New Zealand's professional association representing the interests of insurance brokers, risk managers and consumers.
IBANZ gives strength and support to members enabling them to better meet their challenges and opportunities.
We achieve this through staying involved with government activity and legislative reform impacting the insurance industry, and more specifically fire and general brokers and their clients.
We focus on providing high quality presenters who speak on a variety of fire, general and business topics under our Continuing Professional Development (CPD) offering to support members deepen their knowledge and broaden their skills.
The IBANZ Code of Professional Conduct provides the public with assurance that members act in a professional and ethical manner. It includes a disciplinary and complaints committee to review concerns that may arise.
Ph: 09 306 1732
www.ibanz.co.nz
Welcome to the September edition of CoverNote
Asspring approaches, we’re embracing a season of renewal and reflection here at IBANZ. This issue of CoverNote marks a particularly exciting chapter for our organisation and the wider insurance broking community.
IBANZ has a new home and it’s more than just a change of address. Our move to The Crate in Albany places us in a vibrant shared office community, connecting our team with a wider network of professionals and creating new opportunities for collaboration. The energy in the space is palpable, and we’re excited about the possibilities it brings not just for us, but for our members. If you’re in Auckland, we’d love to host you for a coffee and a chat.
We’re also delighted to welcome Katherine Wilson as our new Chief Executive. Katherine joins us from the Property Council of New Zealand, bringing deep experience in advocacy and a passion for strategic leadership. Her appointment follows a thorough recruitment process, and we’re confident she’ll be a powerful voice for our profession. You can read more about Katherine’s journey and vision in her interview on pages 6-7.
This issue also marks a major milestone for Rothbury Insurance Brokers, celebrating 75 years of people-first growth. Their story is one of grit, connection, and commitment to doing right by clients and colleagues alike. It’s a legacy worth celebrating.
As climate-related risks continue to shape our landscape, we explore how brokers are helping clients prepare for a more resilient future. From Auckland Council’s flood viewer to land-use modelling and the latest FMA report, the message is clear: adaptation is no longer optional, it’s essential.
We’re also seeing momentum build around sustainability in our sector. Green insurance products are gaining traction globally, driven by both consumer demand and climate-related risk. This shift presents an opportunity for brokers to lead conversations around ethical underwriting, ESG integration, and future-focused product design. As insurers innovate, brokers have a unique role to play in translating these developments into meaningful options for clients who want to align their values with their coverage.
Elsewhere in this issue, you’ll find insights on Directors and Officers insurance, green product innovation, cyber risk trends, and the evolving regulatory environment. Each article reflects the dynamism of our sector and the critical role brokers play in guiding clients through complexity.
Whether you’re a seasoned adviser or just starting out, we hope this edition of CoverNote offers inspiration, practical insight, and a sense of connection to the wider IBANZ community.
Here’s to new beginnings, shared spaces, and a future built on resilience.
CoverNote is the official publication of IBANZ and is distributed FREE on a quarterly basis (March, June, September, December) to members throughout New Zealand and associated companies. Additional copies are available at a cost of $7.50 per copy, or 12 month (4 issues) subscriptions at $30.00, inclusive of postage and packaging. The articles or opinions featured within this magazine are not necessarily the opinions of the publishers or IBANZ, and they do not accept responsibility for the content of articles featured within the publication. No part of this publication may be reproduced without the written permission of the publisher. The publishers do not accept responsibility for loss or damage to unsolicited photographs or manuscripts.
IBANZ enquiries should be made to: Melanie Gorham, Chief Executive, IBANZ. Email: mel@ibanz.co.nz IBANZ National Office located at: The Crate, 28 Constellation Drive, Rosedale, Auckland 0632 PO Box
IBANZ has a new home
The IBANZ team recently settled into new premises on Auckland’s North Shore, joining a vibrant shared office community at The Crate, Albany.
The change of location follows the lease ending at the previous offices in Rosedale North Harbour. The sale of PIQ College in 2022 meant the space there was larger than needed for a team of three, and other more suitable options were sought.
IBANZ settled on a co-working space at The Crate, 28 Constellation Drive. This new shared office environment means the team is now part of a buzzing North Shore business community, offering networking opportunities and a sense of community in a modern professional environment.
The Crate is equipped with high-quality meeting rooms including all the technology needed to deliver IBANZ’s online CPD webinars, as well as a shared kitchen, business lounge and breakout spaces..
The good news for members is that you can share the benefits of The Crate. If you’re in Auckland, feel free to call by for barista-made coffee and a chat. The team can also arrange access for temporary hot desk space if you need to get some work done between meetings – just let Karen or Julie know and they’ll be happy to host you.
Learn, grow, repeat.
Continuous
professional development (CPD) is a big focus for financial services professionals, whether it’s keeping up with regulatory changes or understanding how to harness the benefits of AI, learning is a lifelong pursuit.
One of the important benefits of IBANZ membership is the access it offers to a high-quality CPD programme which delivers an average of 75 events and webinars each year. Sessions can attract 200 or more attendees with sessions addressing technical risks, such as business interruption and financial lines, and rapidly evolving risks, like cyber threats and environmental exposures, proving some of the most popular.
IBANZ member services manager Julie Walsham says, “Sessions focused on softer skills, such as handling complaints and time management, are also well received. Much of the content is recorded and can be viewed at a time to suit, so that learning can be scheduled to fit into busy calendars. And we love to receive suggestions about new topics members would like to see covered.”
One of the important benefits of IBANZ membership is the access it offers to a high-quality CPD programme which delivers an average of 75 events and webinars each year.
IBANZ is able to tap into a team of quality presenters who are subject matter experts to deliver live webinars offering fresh and relevant perspectives on the whole gamut of insurance-related topics. Recorded content is reviewed annually to ensure the information is up to date, and some regular topics are repeated annually, with updates to reflect the latest product and claims information.
An overview of upcoming CPD opportunities is listed in CoverNote each quarter and available in the member section of the IBANZ website. When you book via the website and attend the session, your CPD points are automatically uploaded on your record, and IBANZ will maintain your record on your behalf – as long as you remain a member – even if you change employers.
Julie says many of the technical or product-based webinars offer a short quiz at the conclusion. “Members who score 100% on the quiz earn an extra 0.5 CPD hour, so it’s worthwhile testing yourself to make sure you’ve absorbed the learning.”
All IBANZ members are encouraged to have a professional development plan, which they should review annually with their manager. Once growth areas are identified, the IBANZ CPD programme is a great place to find resources to match specific development needs.
IBANZ welcomes new CEO Katherine Wilson
Katherine Wilson steps into the CEO role at the Insurance Brokers Association of New Zealand (IBANZ) this month, fresh from her role as Head of Advocacy at the Property Council of New Zealand.
CoverNote spoke with Katherine to learn more about what makes her tick.
What attracted you to this role?
Firstly, I’m excited about the chance to lead a membership organisation. I’m a strategic thinker who enjoys working with people, learning about the issues facing the industry, and helping to find practical solutions. Secondly, I love a good challenge, and advocacy is my passion! The industry is navigating various challenges from natural hazards impacting property, through to increasing insurance costs and regulation. This means insurance brokers need to be more agile than ever before. I'm eager to deepen my understanding of these issues and explore how the industry can be proactive and take a leadership role in this space.
Share a bit about your career path to date. What experiences and influences have brought you to this point?
I’ve spent the majority of my career in membership organisations that are focused on supporting businesses and property. My first experience with a membership organisation was the Wellington Employers’ Chamber of Commerce, where I split my time between employment law and advocacy. After a couple of months, I was faced with choosing between the two. The idea of helping many businesses through advocating for wholesale legislative and policy reform really resonated, and that’s what’s kept me doing advocacy work ever since. The Property Council New Zealand is also a membership organisation. As Head of Advocacy there, I championed the interests of the residential, commercial, industrial and retail property sectors across the country. As a member of the Leadership Team, I’ve been a part of the organisation’s transformative journey, focused on establishing clear advocacy strategies that align with our members. I’m ready to take the helm of IBANZ, build on the good work to date, and, through the input from our members, develop a strategy that can elevate the organisation to the next level.
Do you see a lot of common ground between the topics/ issues you dealt with at the Property Council and insurance? How do you think that will help you?
Absolutely. Membership body organisations are unique. One of the big challenges is getting everyone on the same page. You’ve got a wide range of members, all with different views, so the challenge is to make sure everyone feels heard and included in the decision-making process. From an advocacy perspective, there is crossover on topics I have worked on. For example, resource management reform, natural hazards and Fire and Emergency New Zealand funding all impact both property ownership and insurance.
What’s a great day at work for you – what do you love to do?
I love working strategically and exploring future opportunities for an organisation. To do that well, it’s essential to spend time listening and learning from others, both inside and outside the organisation. It’s through those insights that the best ideas take shape, and I love nothing more than a great plan.
Are you an introvert or an extrovert?
Extrovert – and the proof’s been in every school report since I was five!
What’s your coffee order or favourite snack?
I don’t drink coffee (or tea). My favourite snack is potato chips. Savoury over sweet snacks any day. What do you do to switch off from work?
I like to spend time with my family – kids' sports, board games, beach walks, etc. In the past few years, I have started social running and studio Pilates. I’ve completed one marathon and several half-marathon races. I have the inaugural Muriwai Half Marathon next in my sights. What’s the best advice you’ve ever received and from whom?
I’ve had the fortune of receiving a lot of great advice throughout my life, from exceptional family support through to incredible business mentors. One piece of advice that’s always resonated with me came from my dad when I was 14. I was in the semi-final debating championship in Wellington and desperately wanted to make the final. Speeches were eight minutes long, but at the conclusion of the debate, the adjudicator spoke for 45 minutes. My 14-year-old brain was wishing she didn’t use such long words because I couldn’t work out which way this was going. In the end, we lost. But I distinctly remember dad breaking the silence on the car ride home, saying, “Beware of the adjudicator that talks more than the debater.” It was a lesson in humility I’ve never forgotten.
What are you reading at the moment?
Nothing – that usually surprises my friends, colleagues, and family, but I don’t tend to read books unless I’m on holiday. I spend a lot of time reading for work, so the last thing I feel like doing in my downtime is picking up more reading. It’s always been that way, even as a kid and through university. I’ll read when I have to - like in law school - or when something really grabs my interest. But when I’m not working, I’d much rather be out enjoying the outdoors than curled up with a novel.
Directors and Officers Insurance -
what brokers need to know to protect clients.
In an era of rising director liability, directors and officers (D&O) insurance is a frontline defence for directors, officers and companies. Without it, directors could be at risk of facing personal financial ruin.
The
role of the broker is to ensure the cover is appropriate, exclusions are understood, and claims processes are clear - before an issue arises. Here are some key takeaways from a recent IBANZ seminar on D&O liability insurance to help brokers navigate these challenges. What is D&O insurance, and why is it essential?
D&O insurance is specialist liability cover that protects company directors, senior officers, and in
some cases the company itself, from legal and financial exposure arising from management decisions.
It can cover:
• Directors' personal liability for wrongful acts while acting in their capacity as a director or officer.
• Company reimbursement where the company indemnifies a director or officer and seeks repayment from the insurer.
• Entity cover in some policies, where claims are brought against the company alongside its directors or officers.
Under New Zealand law, directors can be personally liable to the company, shareholders, creditors, regulators or third parties. The Companies Act sets out extensive fiduciary and statutory duties. Breaching these can lead to significant claims, especially around insolvency, mismanagement or misleading conduct.
A D&O policy generally covers legal defence costs, payment of settlements or damages, and provides protection even in complex regulatory or civil claims, provided the actions weren’t criminal, fraudulent or excluded.
D&O insurance is different to professional indemnity (PI). Where PI insurance typically provides cover in relation to professional conduct in the course of the business of the company, D&O insurance will provide indemnity to directors in relation to their general management of the companies’ affairs.
All D&O policies are not created equal
Policies differ vastly in definitions, exclusions and triggers. What one insurer defines as a ‘wrongful act’ or ‘claim’ could dramatically affect whether a director is covered. Never assume a D&O policy is standard. Always check the details and compare definitions, exclusions and sub-limits. Watch out for insolvency exclusions
Insolvency claims are some of the most common claims arising in relation to D&O policy. However, similar to leaky building claims under general liability policies, many insurers have sought to carve out claims for insolvency by including an insolvency exclusion. It is important to be aware of the insolvency exclusion clauses and give careful consideration to their wording when advising potential insureds on the extent of cover available
Insolvency exclusions can result in an uninsured portion of the loss claimed. Defence costs may be covered if the actions of the insured lead to insolvency due to this portion of the claim not arising out of insolvency. But an award by the Court for damages caused to creditors as a result of the insolvency may not be covered under the insolvency exclusion, as these losses will be considered to have arisen directly out of the company’s insolvency.
Severability clauses matter
When there are multiple insureds, the cover can be either be joint or composite. Joint means the cover is for all insureds, and the effects of any failure to comply with the terms and conditions will be against all the insureds. Composite means that while there is only one insurance policy, the policy is seen as a set of separate contracts between the insurer and the various insureds.
A severability and non-Imputation clause can, however, protect innocent directors or officers if another director or officer has breached the terms of cover available under the policy, provided that the innocent insured had no prior knowledge or involvement in the conduct of the non-innocent insured.
A severability and non-Imputation clause can create a notable benefit for companies with a sole director and shareholder, as the company is considered a separate entity under the policy. Where a sole director/shareholder has been dishonest and cover for them is excluded, the severability and non-imputation clause can be triggered, meaning cover could be available for the company.
Claims must be promptly notified
D&O policies are claims-made. Generally, there is an obligation to notify both a claim or circumstances that may give rise to a claim. In order for there to be a valid claim, there must be some third-party demand against the insured for compensation or clear intention to hold the insured responsible for a loss suffered.
A D&O policy is always triggered by a claim alleging a wrongful act. It’s important to check the relevant wrongful act definition in the policy regarding the nature and type of claim and applicable cover available.
A claim can be a written or oral demand for relief. An expression of dissatisfaction or a mere request for information without a demand for relief is most likely to not constitute a claim, as it does not convey that the third party intends to hold the insured liable. Rather, this will likely constitute a circumstance that may give rise to a claim, but will most likely need to be notified regardless.
Useful extensions
It’s important to understand any relevant automatic extensions which can provide useful additional cover.
Examples include:
• Outside directorship - cover for roles held in external companies
• Employment practices liability - cover for grievances and workplace disputes
• Investigation costs - for regulatory or government inquiries
• Continuous cover - important if a client fails to notify a known circumstance under the prior policy
Separate defence and liability limits essential
This issue arises where the potential loss could reach the limit of indemnity cover without being able to meet both defence costs and liability claims. If defence cost and liability limits are not separate and ringfenced the insurer may not pay defence costs in the course of the claim out of concern that there will be nothing left to cover the potential liability.
Most D&O policies now provide separate indemnity limits for defence costs and liability. Look for polity wording that provides for defence costs cover in addition to the insurance monies payable to meet a third-party liability claim. The final word.…
Remember, no two D&O policies are the same. Policy wordings, definitions, exclusions and extensions vary significantly between insurers. Coverage for specific risks such as an insolvency claim, defence costs, or severability for innocent directors, can all turn on the specific language of the individual policy. Even commonly used terms such as ‘wrongful act’ or ‘claim’ can carry definitions that differ from their ordinary meanings. Always review the wording of the policy closely. Check for key exclusions and extensions.
When a claim arises, follow notification procedures correctly. D&O cover usually requires prompt notification to trigger cover. Failing to do so can result in losing covereven for otherwise insurable claims.
75 years of Rothbury: A people-first growth story
Step back to the early '90s: a young Roger Abel is out knocking on doors, selling life insurance the way it used to be done. It’s an understated start to a stellar career and a company employing hundreds across New Zealand, and which this year celebrates the major milestone of turning 75. From those humble beginnings, as Managing Director of Rothbury Insurance Brokers, Roger is marking the company’s anniversary with the kind of grin that says, "We’re just getting started!"
In a recent discussion, Roger shared the story of Rothbury’s journey with his trademark warmth, a dash of humour, and a whole lot of enthusiasm. With his recollections come insights into all those things you may or may not have known about the company’s origins and ethos. And it is quite a story.
How did Rothbury start?
When companies are institutions, one tends to imagine they have always had scale. That wasn’t the case in 1992. When Roger stumbled across a small commercial insurance agency called RH Rothbury, there was little indication of what the future held. “It was just me, Michael Whittaker, and about $160,000 in revenue,” he says with a smile. “We bought the business on Valentine’s Day - romantic, right?”
That leap of faith wasn’t yet a grand plan to build a national powerhouse, but more like two mates seeing
potential and thinking, “Why not?” And guess what? It worked. Today, Rothbury has more than 500 people nationwide in 24 locations across the country.
How did Rothbury achieve growth and expansion?
Going from a small operation to a big one takes all the usual ingredients: hard work, ambition, talent, and grit. It also takes good fortune, often the sort one makes for themselves. While Roger readily admits there was no master blueprint, the aforementioned qualities are clear. “We set realistic goals, maybe three to five years out, and just kept at it,” he says, with a quiet confidence belying a steely determination.
Combined with organic growth, the Rothbury umbrella is also fuelled by targeted acquisitions, accelerating the reach of a trusted name.
A further key ingredient? That determination is about creating and adding value to policyholders, underwriters, insurers and reinsurers, and the many, many people touched by the Rothbury commitment to personal service.
Why does the Rothbury name still stand strong?
You’d think a company with such a storied history might’ve toyed with a rebrand. But Roger’s not having it.
“The Rothbury name has this… magic,” he says, leaning
forward conspiratorially. “I never had the chance to meet Ron Rothbury, but while it started with him, the name has come to mean so much more - it’s about trust, quality advice, and that personal touch.”
It’s for reasons like these that the company endures, because the name espouses values, key among which is doing right by people, whether employees, partners, suppliers or policyholders. “Rothbury just feels right,” he emphasises. “It’s distinctive, and fits who we are.”
Are there secrets to Rothbury’s success?
“We’re not aiming to be the biggest or flashiest,” he says. “We’re focused on being the most trusted - by our clients, partners and people.”
It’s a sentiment that resonates across the industry. Those in the know often point to the same core truth: insurance is, at its heart, a people business. Genuine connections with clients and partners alike, a sharp focus on listening, learning, and continuous improvement – these are the foundations of Rothbury’s success.
That focus on people shows up in the numbers. With over 80 team members sticking around for a decade or more (and 18 with over 20 years of service). Rothbury’s knack for attracting and keeping talent is practically legendary.
It’s also something Roger is rather proud of. “It’s simple. People matter,” he says. “We’ve built a culture where team members feel valued, not just as employees but as part of something bigger.”
What standout moments say, ‘This is Rothbury’?
Ask Roger about his proudest moments, and he lights up. “Our national conferences and awards nights,” he says without hesitation. “Seeing everyone come together, cheering for their mates across branches… It’s not competitive, it’s supportive. That’s when you know all the hard work’s worth it.”
You can almost hear the clinking glasses and feel the buzz of camaraderie. It’s not just a company event; it’s a celebration of connection, recognition and community.
What Roger Abel loves about the work
Here’s where Roger’s approachable charm really shines. “I’m not the most technical broker,” he confesses, with a laugh. “Never have been.” Instead, he’s the guy who’s all about building relationships and a business that lasts, with a
humming culture and uplifting leadership. His strategic mind and genuine care for people have turned Rothbury into more than just a brokerage; it’s a values-driven business that cares.
“I love solving problems, thinking about how the business works, and most of all, spending time with great people. Every branch visit, every new idea, every success story - those moments keep me energised.”
A new chapter in Rothbury’s leadership: Honouring Paul Munton, welcoming Jessica Hunt
After 45 years in insurance, the man affectionately known as ‘Munts’ stepped back from Rothbury Insurance Brokers in July, passing the baton to Jessica Hunt in a transition embodying the spirit of adaptability. “I’m looking forward to a bit of a break, some family time, and getting out on my boat. It’s been ages!” Paul smiles.
His career spanned roles from a 1979 renewals clerk to a seasoned executive and is a masterclass in integrity and client-centricity, and his departure marks a changing of the guard as Jessica steps in with fresh energy to lead Rothbury into the future.
Paul’s personal mantra is both simple and enduring. “Treat people as you want to be treated” - an ethos underpinning relationships and earning him respect as a leader who prioritises integrity and commitment.
“Over the past decade, Paul has been a driving force at Rothbury, bringing wisdom, energy, and a client-first mindset that has strengthened our business and inspired our team,” says Roger. “His broader impact on New Zealand’s insurance industry is considerable - he commands quiet respect through his leadership, integrity, and ability to foster trust. He has set a benchmark for excellence.”
As Paul prepares for a busy retirement filled with fishing, a European cruise, and family time in Canterbury and the USA, he remains connected, serving on a Rothbury-invested board and as a shareholder.
His enthusiasm for Jessica’s appointment is palpable. “Jessica’s bursting with energy and new ideas,” he says. “She’ll bring her own touch, keeping Rothbury current and future-ready.”
Jessica steps into this legacy with momentum, combining innovation with the client-focused ethos long championed by Paul and carried forward by the broader Rothbury organisation. A bright future awaits.
ROTHBURY EXECUTIVE LEADERSHIP TEAM
Left to right: Roger Abel, David Walton, Rachel McKay, Treena Rowley, Shane Ohlin, Jessica Hunt, Paul Munton, Sandy MacCallum
Financial Markets Authority (FMA) Report
Insurance companies have improved their processes but more to do in extreme events
In early 2023, New Zealand was hit by two severe weather events, with the Auckland Anniversary Weekend floods and Cyclone Gabrielle occurring within a period of 16 days. The impact of these events on both people and property was significant, with 15 lives lost as well as mass evacuations, communications outages, displacement, and widespread damage.
This report was prompted by feedback the FMA received from not only industry, but also wider consumer data on overall satisfaction with the insurer's response after the North Island weather events (NIWE). We know and acknowledge that there were difficulties with claims following the NIWE, and our recommendations will ideally lead to better experiences for consumers after similar types of weather events.
This piece of work falls under our recently-released Financial Conduct Report that outlines the upcoming year’s priorities – in this case, ensuring licensed Financial Institutions deliver products and services that meet consumers’ needs and expectations.
These findings and insights will assist insurers with the future development of their claims process under the Financial Institutions (CoFI) regime introduced in March. CoFI is designed to protect consumers by putting the consumer at the forefront of insurers’ decisions and actions.
Report Summary
Insurance companies have improved their processes
since the Canterbury earthquakes, but a new report into the insurance sector’s response to the Auckland Anniversary Weekend flooding and Cyclone Gabrielle has found more improvements are needed.
The Financial Markets Authority - Te Mana Tātai Hokohoko (FMA) - released its report following a review of insurers’ claims processes, which are crucial to a good consumer experience.
Based on feedback from insurers, brokers, and dispute resolution schemes, the FMA recommended six areas for improvement: communications, project management and oversight, identifying and treatment of customers in vulnerable circumstances, resourcing, complaints handling and business continuity.
FMA Head of Insurance Jane Brown acknowledged the comprehensive and immediate response to the events by insurers and brokers, and commended them on their huge efforts to assist their customers in unprecedented circumstances.
“The Auckland Anniversary Weekend floods and Cyclone Gabrielle were the largest weather events to impact the country since Cyclone Giselle in 1968, resulting in 118,000 insurance claims and close to $4 billion in damage to insured property.
“It is clear that the sector rose to meet an overwhelming challenge using learnings from the earthquakes, and has
done further work to improve. Following the events, however, we also became aware of consumer concerns relating to delays, complaints, and the experience of the insurance claims process generally.
“The next significant insurance event is a matter of ‘when’, rather than ‘if’. It is important that insurers take the time to review and tailor their claims processes to ensure that consumers’ expectations and needs are being met.
“With New Zealanders facing increasing risks around extreme weather events, maintaining confidence in the insurance sector is more important now than ever.
“While we acknowledge all the work done by insurers to improve the consumer experience since the Canterbury earthquakes, and again since the North Island weather events (NIWE), we still see areas where improvements can be made. We look forward to working collaboratively with the fire and general insurance sector to support further conduct improvement.
“This is an important report because these findings and insights will assist insurers with future development of their claims process under the new Conduct of Financial Institutions (CoFI) regime introduced in March. CoFI is designed to protect consumers by putting the consumer at the forefront of insurers’ decisions and actions.
“We have signalled that as part of our initial supervision of insurers under CoFI, we will focus on the product and service
Visit: fma.govt.nz for
It is clear that the sector rose to meet an overwhelming challenge using learnings from the earthquakes, and has done further work to improve.
Jane Brown, FMA Head of Insurance
reviews in financial institutions’ Fair Conduct Programmes (FCPs).
“We now have broader tools and mechanisms to respond to and address, conduct gaps and issues in this sector. We will continue to use our full range of regulatory interventions to address poor conduct (such as feedback, public warnings, enforceable undertakings and litigation where warranted), as well as continuing to utilise the fair dealing provisions to respond to misleading, deceptive or unsubstantiated representations.”
Auckland Council’s flood viewer well used
Auckland Council’s online flood viewer is seeing sustained high use more than two years after the 2023 anniversary weekend floods and Cyclone Gabrielle, events that caused 15 deaths, forced thousands from their homes, and inflicted up to $14.5 billion in economic losses.
The tool, which provides a bird’s-eye view of waterflows and flood-prone areas, recorded more than 780,000 visits in 2024 - averaging over 2,000 a day, The Post reported. Council officials say the spike reflects ongoing public concern about flooding, even in locations well above sea level.
“Even when people are going to look at houses on a hilltop, where it’s downhill in all directions, they’re still asking the question about flooding,” said Nick Brown, head of intelligence for Auckland Council’s Healthy Waters unit. “Lots of flooding occurred; it is still in people’s consciousness in Auckland.”
Flood data for the city was first made fully public in 2013. A surge in usage followed in August 2023, when the viewer was made mobile-friendly. Senior Healthy Waters specialist, Nancy Baines, said the update was designed to reach both buyers and renters. “Renters are really key. They move a lot, and they don’t pay for a LIM because they’re moving so often, and it’s expensive,” she said, referring to land information memorandums that outline hazards such as periodic flooding.
Are rising premiums prompting the surge?
According to an IAG survey, nearly nine in 10 prospective homebuyers now check for natural hazard risks, up from 55% before the 2023 disasters. However, CoreLogic chief economist Kelvin Davidson said he had not seen evidence that heightened awareness had yet influenced house prices. While past floods, such as those in Dunedin in 2022, temporarily affected values, he noted those impacts faded over time.
Davidson said risk-based insurance pricing could be more influential, as higher premiums may limit what buyers can afford to borrow. Several insurers, including Tower, are moving toward more individualised pricing based on hazard exposure.
The increased public access to hazard data aligns with recommendations from the Independent Reference Group on Climate Adaptation, chaired by former Guardians of New Zealand Superannuation chief executive, Matt Whineray.
“This is a crucial first step toward a fairer, more informed system, and it’s a step that we can take right now,” said member Jimmy Higgins, chief executive of Suncorp NZ.
Banks are also showing greater interest. Westpac chief executive Catherine McGrath said hazard risk is now a key consideration for buyers and lenders. “I think the way that we get through all of this together… is with data,” she said.
Earlier this month, the council expanded its information tools with a coastal monitoring portal tracking sand levels, coastal imagery, and water conditions at key beaches.
Land-use modelling system helping to evaluate future flood risk
Dr Robert Cardwell - Market Economics
Aland-use modelling system commissioned by the Natural Hazards Commission Toka Tū Ake (NHC) has been developed to help councils and planners evaluate how zoning rules and infrastructure investment decisions could influence future flood risk.
The tool, designed by Market Economics’ Dr Robert Cardwell, runs virtual simulations to estimate how different policy approaches could change the location and type of urban development over time.
Cardwell noted that once land is zoned and built on, reversing those decisions is often impractical, making early risk assessment essential.
“Urban planning decisions are hard to reverse,” he said.
“Once zoning rules are applied and infrastructure is built, the consequences last for decades. Our model helps avoid a situation where, 10 years after a development is approved, a major flood hits and people ask, "Why was this allowed in a floodplain?’”
Rather than predicting exactly where housing will be built, the model examines development drivers – such as accessibility, surrounding land uses, and population growth –to assess where high-risk construction might occur and what measures could reduce exposure.
According to current estimates, around 12% of New Zealand’s housing is located in areas prone to flooding, largely concentrated in urban centres in Auckland and Canterbury.
Despite this, housing continues to be developed in hazard zones, sometimes without sufficient mitigation.
In an Auckland-based test case, Cardwell modelled a scenario where floodplain areas were rezoned to a more restrictive category.
Over five decades, the model projected notable reductions in high-risk development, including fewer lifestyle blocks, standalone houses, and terraced housing projects.
Most of the displaced development shifted to neighbouring areas with lower flood risk.
Cardwell intends to expand the tool to include economic and transport modelling, enabling comparisons between the costs of repeated flood events and the benefits of alternative land-use strategies.
Study shows cyclone rainfall could increase
Separately, research from Earth Sciences New Zealand and the University of Waikato suggests that rainfall from tropical cyclones affecting New Zealand could intensify by up to 35% by 2100 if greenhouse gas emissions remain high.
The study simulated more than 1,800 years of cyclone activity under various climate change scenarios.
While the overall number of cyclones was not projected to rise, the frequency of stronger storms – Category 4 or above – was expected to increase.
Rainfall is forecast to show the most significant change, with wind speeds also strengthening but to a lesser extent.
The researchers attribute the rainfall increase to a warmer atmosphere’s capacity to hold more moisture, allowing storms to produce heavier downpours. Historical events show potential losses
New Zealand typically experiences one or two ex-tropical cyclones a year, but severe events are infrequent.
Cyclone Gabrielle in 2023 and the Auckland Anniversary floods caused an estimated $14.5 billion in damage, of which insurers paid $3.8 billion in claims.
Advances in modelling resolution – from about 100 kilometres in older global models to roughly 12 kilometres in
Our
model helps avoid a situation where, 10 years after a development is approved, a major flood hits and people ask, "Why was this allowed in a floodplain?"
Dr Robert Cardwell, Market Economics
the latest regional simulations – are giving a more detailed picture of how storms could affect specific areas.
Global catastrophe losses remain elevated
The release of these findings coincides with a Willis analysis indicating that global insured losses from natural catastrophes in 2025 are likely to surpass $100 billion for the seventh straight year.
The largest single loss to date is the Los Angeles wildfire, with insured losses of more than $40 billion.
TheUnderstanding the limits of New Zealand’s natural hazard land cover
Natural Hazards Commission (NHC) is calling on homeowners – and the brokers who advise them – to understand the limits of New Zealand’s natural hazard land cover before disaster strikes.
A recent NHC survey found 56% of insured homeowners mistakenly believe they would receive full compensation for natural hazard-related land damage. In reality, the Crownowned scheme, formerly known as EQC, provides up to $300,000 for house damage and only partial land cover, which cannot be topped up with private insurance.
“Land cover is specifically designed as a contribution payment, not full cover,” NHC chief executive Tina Mitchell said. “The limits of cover available ensure every homeowner across the country gets access to some protection, and helps keep the scheme affordable as it is funded by homeowners.”
Mitchell said the recent landslides in Wellington underscored the risk of misunderstanding policy scope. Two hillside properties in Wadestown were left teetering above a busy commuter rail line after slips triggered by a burst water pipe. Urgent works were required to stabilise the sites, but questions remain over who will bear the remaining costs.
According to RNZ, NHC chief strategy officer Michala Beacham said land cover applies only to damage within eight metres of the home or within 60 metres of land needed to
access it. Settlements are based on the lesser of repair costs or the land’s value, often resulting in a shortfall.
“It is a horribly stressful time dealing with a natural hazard event,” Beacham told Morning Report. “Then having an unexpected cost on top of that is really not a good time for anyone. That’s why we are just trying to help people understand beforehand.”
The NHC recommends that property owners:
• Learn about the risks to their property and how hazards may affect it.
• Check the specific limits for both house and land cover.
• Reduce risk by seeking expert advice, such as strengthening retaining walls or improving drainage.
• Plan financially for potential recovery costs beyond the scheme’s contribution.
For brokers, the message is clear: client education is essential. With New Zealand experiencing more than 150 severe weather events and natural disasters since 1968 –including record payouts after Cyclone Gabrielle and the Auckland Anniversary floods in 2023 – understanding cover limits could prevent financial shocks in future claims.
“The scheme is a good contribution, but it is not designed to cover all costs,” Mitchell said.
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Aninsurance career that began by chance has grown into a nearly 30-year career filled with purpose. Andrea’s story is one of gratitude, community, and a deep commitment to helping people when it matters most.
A chance meeting
“I entered the insurance world needing work experience for a Wintec course I was studying,” Andrea recalls. “I literally walked off the street and landed a role with National Insurance - now Tower - thanks to a gentleman who’d once worked with my mum.”
That unexpected break marked the start of a career that quickly gained momentum. Beginning in a claims support role in Hamilton in 1997, Andrea soon realised she wanted to make a deeper impact on customers. “I knew I wasn’t adding the value I was capable of,” she reflects. “That’s when I began looking into where I could make a real difference.”
Andrea’s determination led to a short stint in personal lines underwriting, first with State and then with NZI. Eager to expand her knowledge of NZI, Andrea jumped at an opportunity to swap roles with a colleague and move into commercial insurance. “I wanted to understand the full insurance picture,” she says. “That hunger to learn has driven me ever since.”
Leading with heart
Andrea’s leadership philosophy is shaped by those who gave her opportunities.
“The gentleman who gave me my first job believed in me, and that left a lasting impression. I carry that forward by always giving our younger team members a chance to shine, and supporting their growth every step of the way.”
Today, Andrea leads NZI’s Broker Claims Operations and Partnerships, overseeing teams dedicated to delivering outstanding claims service across the country. She describes her role as “a privilege,” especially when it comes to supporting brokers and their customers through challenging times.
“In essence, we’re an extension of our customers’ businesses,” she explains. “When a customer endures a loss, it’s not just about property or assets, it’s about livelihoods. I always remind my team of that.”
One early customer experience left a lasting impression, and still guides Andrea today. “I remember a Hamilton house fire,” she shares. “The broker called, and we managed to get a property assessor there immediately. I went with them and spoke to the customer while they were still standing on the street looking at the ashes of what was once their home. The emotion was raw, and fortunately, we were able to get them immediate support, including accommodation, and even wrote a cheque on the spot. That experience reminded me just how human our work is. Behind every claim is a person, a story, a life.”
Gratitude is Andrea’s compass
Central to Andrea’s life is her rural Waikato upbringing and close-knit family. “I’m a country girl through and through,” she laughs. “I grew up on a dairy farm, so I love the country, the open space, and the sense of community that rural living brings.”
That strong rural connection also fuels Andrea’s passion
at work. “I feel like the rural space is where my heart lies professionally,” she says. “I love that NZI is making inroads with our new Ag Guard partnership. Teaming up with a rural underwriting agency means we can offer a broader range of products for our mutual customers and also help support the ongoing resilience of rural communities. For a rural gal like me, that makes me really proud.”
Andrea shares a lifestyle block with her husband Nigel, her partner of 28 years. “Funny story. Nigel and I met in primary school,” she smiles. “It’s pretty special to have shared so much life together.”
Their two adult children, Shontelle and Jordan, have stayed close to home, continuing the family’s community legacy. “Shontelle’s a schoolteacher, working with farming families’ kids, many of whom are outdoorsy and don’t love the classroom. My son Jordan is a dairy farmer - it’s wonderful to see them both living the values we hold dear.”
Together, Andrea and her family enjoy a lifestyle rich in connection and self-sufficiency. “We’ve got our own vegetable garden and orchard, and we love sharing what we grow with neighbours and friends. We’re all fishing and hunting families, so we spend lots of time outdoors together.”
Life in the fast lane
Away from insurance, Andrea lives for the open roadliterally. “Motorsport is my secret obsession,” she laughs. “Well, not much of a secret, as I think everyone already knows I’m a bit of a fan.”
She and Nigel recently fulfilled a long-held dream by
buying their beloved Ford Mustang, and they make an annual pilgrimage to various V8 Supercars events. “We’ve booked a trip to Townsville for the upcoming V8 Supercars round, and of course, we’ll turn it into a road trip. ‘Don’t plan - just go!’ is our motto, which is the total opposite of my structured approach to work, but I love that.”
Living every moment
Work-life balance has been a learning journey for Andrea, who admits she’s always been a workaholic. “My manager, Meg Warner, NZI’s Executive Manager Broker and Specialist Claims, role models balance and encourages me to be purposeful,” she says. “When I’m at work, I’m fully focused, and I’m learning that when I’m with family, I need to be all in.”
Life hasn’t been without its challenges for Andrea and her family. “Nigel recently endured a tough time with cancer, so the kids and I feel incredibly grateful every day that he’s now in the clear. That experience really deepened my appreciation for community, and reinforced the importance of finding balance.
“It’s about deliberately committing to the moment and the people around you. You can’t bring your best self to work or home if you’re distracted. It’s about prioritising the people you’re with by living every moment.
“Life isn’t always easy, especially when you care deeply about what you do,” she says. “By being intentional, surrounding yourself with strong role models, and modelling those behaviours yourself, you can create a ripple effect. That’s how balance becomes real - for yourself and those you lead and live with.”
Andrea and her beloved Ford Mustang
Nigel, Andrea, Shontelle and Jordan at Shontelle's engagement
IAG New Zealand announces FY25 results
IAGNew Zealand has announced an insurance profit of AU$606m (FY24: AU$457m) for the financial year ended 30 June 2025, delivering a reported insurance margin of 27.4% (FY24: 22.5%).
This result reflects the lower cost of natural disasters (AU$156m below allowance) and achieving a stronger underlying margin of 20.1% (FY24: 16.9%) due to lower claims costs.
Gross Written Premium (GWP) increased by 0.3% to AU$3,807m (FY24: AU$3,796m), with growth of 1.7% in local currency terms.
Amanda Whiting, CEO of IAG New Zealand, says, “Our financial performance in FY25 reflects the investment we have made in our business to deliver on our strategy, meet customers’ needs, and create a stronger, more resilient IAG.
“New Zealand is highly exposed to natural hazards and weather-related disasters and their growing impacts. We must remain financially strong to be able to pay claims and help our customers recover from the next big event, and today’s results help us do this.
“Protecting customers from the risk of wild weather and other disasters is never far from our minds. This year, we have been focused on improving our ability to understand, prepare for, and respond to disasters so that we can be there for our customers when they need us most. We’ve also made great progress in simplifying our claims process, and we’re continuing to invest in streamlining our business to help us bring new, world-class products and services to our customers.
“We are conscious of the financial pressures many New Zealanders are experiencing. Delivering on our strategy and investing for growth, alongside falling inflation, has allowed us to provide lower rate increases for customers over the course of the year, and we expect this to continue in FY26.”
Throughout FY25, IAG New Zealand insured over NZ$1.07t in assets and continued to protect around one in two New Zealand households. More than half a million claims were received in FY25, and NZ$2.17bn was paid out to support customers.
Customer benefits beyond insurance
Amanda Whiting adds, “We're proud to support New Zealanders in more ways than simply insurance.
“In May, we announced that AMI would be providing free Roadside Rescue for all AMI comprehensive car insurance customers, setting a new industry standard, with no limit on callouts, no extra form-filling, and extended to any car the customer may be driving or anyone who may be driving theirs.
“Similarly, one-year free AMI Roadside Rescue is now available for newly licensed drivers heading out on New Zealand roads for the first time, even if they are not insured with AMI. We have also included Roadside Rescue for all NZI light commercial vehicles. By June 2026, over half a million New Zealanders will drive with increased confidence, knowing they’re covered by free Roadside Rescue.
“AMI MotorHub is now in ten locations across the motu, and our teams are successfully innovating their high-quality services beyond repairs. At the Hobsonville flagship centre, customers can now access an 11-point CarCare Check for safety, Warrant of Fitness, EV and standard servicing.
“AMI HomeHub is now fully operational in Auckland, Hamilton, Tauranga, Christchurch and Wellington (with satellite teams reaching Taupō and Rotorua), and in January were amongst the first on the ground in Mangawhai, following an overnight tornado, offering ‘make-safe’ repairs immediately following the storm.”
Sustainability
As the country’s largest general insurer, IAG New Zealand understands the impact of the country’s changing climate and the need to take action to protect communities.
Amanda Whiting says, “IAG is committed to keeping insurance accessible and affordable for New Zealanders, and will continue to advocate for a pragmatic approach to address the growing risk of extreme weather and natural hazards. The path forward is clear: invest in better hazard data, make smarter planning decisions, strengthen infrastructure, and, where necessary, relocate communities out of high-risk areas.
“We are also focused on helping our customers to understand the changing climate, better understand insurance, and how to manage the risks they face, as well as reducing our environmental footprint.
“The progress we’re making in these areas strengthens our ability to operate a resilient, future-focused business that’s here to support New Zealanders whenever they need us, for the long term.”
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By Jimmy Higgins CEO, Suncorp New Zealand and Vero Insurance
Thirtyyears ago, few could have imagined the scale or regularity of the natural disasters we face today. Events like Cyclone Gabrielle and the Auckland Anniversary floods have brought the impacts of climate change directly to our communities, underscoring just how much we need to adapt.
For the insurance industry - and for brokers in particularthese events are a reminder that our role isn’t just to respond after a disaster. It’s also about helping clients understand the risks they face, and the steps they can take now to be better prepared for the future.
In July, the Independent Reference Group (IRG) on Climate Adaptation, which I was proud to be part of, released its report outlining how New Zealand can shift from reacting to natural disasters to proactively reducing risk. The report will help inform the Government’s National Adaptation Framework, expected to be released later this year. But what does it mean for you and your clients?
The value of better information
One of the most significant recommendations is to improve access to hazard and climate risk information. Right now, this is fragmented; - councils, government agencies, insurers, and infrastructure providers all hold parts of the picture, but it’s inconsistent and often difficult to access. This means people are making major decisions about where they live, what they build, and how they invest without fully understanding their exposure.
The IRG has proposed creating a national, publicly accessible hazard database. If implemented, this would give buyers, homeowners, and businesses clearer insight into their risks. Clients would increasingly come to you wanting to know what those risks might mean for their insurance, and what they could do in response. That’s a significant opportunity for brokers to provide clarity and direction. Translating complex risk information into practical steps – like factoring resilience into a property purchase - could become an essential part of the role.
Planning for the long term
Adaptation is not a quick fix. The IRG has recommended a 20-year transition period to give households, councils, and the financial sector time to adjust. For clients, this means they can plan, spreading the cost of improvements, making considered decisions about upgrades, and thinking ahead about the future of their property. But it also means there’s real value in starting those conversations now.
Looking ahead over the next decade or two will become part of responsible property ownership. Clients will need to ask: Where is my property most exposed? What changes could make it more resilient? How might those improvements affect my insurance options and costs?
As hazard information becomes more comprehensive, pricing will become more precise. Factors like location, elevation, and building design will have a greater influence on premiums and availability. These changes won’t happen
overnight, but the direction is clear - the link between resilience and affordability will become stronger. Clients who invest in risk reduction measures will not only reduce the likelihood of damage, but may also help manage their insurance costs over time.
A role beyond placing cover
Resilience delivers benefits beyond affordability. Properties that can withstand a severe weather event tend to hold their value, recover faster, and experience less disruption. For business clients, that can mean keeping operations running and serving customers while others are still in recovery.
In this environment, brokers are more than intermediaries; you’re trusted guides. Your role will increasingly involve helping clients interpret new information, weigh their options, and take steps that protect what matters most to them. Sometimes that will involve large-scale improvements, like elevating a home or installing flood protection. Other times it will be smaller, regular maintenance that reduces the risk of damage - trimming trees, clearing gutters, repairing minor issues before they escalate.
Clients will also have questions and they’ll look to you for clear, informed answers. Will my premiums increase? How will I know if my property is at risk? What options do I have to make my home or business more resilient? The IRG’s recommendations give you a credible, independent source to draw on when providing those answers, and to demonstrate that the industry is taking a planned, long-term approach to keeping insurance accessible.
Starting the conversation now
Adaptation also benefits communities as a whole. Reducing risk means less disruption, faster recovery, and a lighter load on emergency services and recovery systems. It means property values are better protected and investment is less likely to be driven away by repeated losses. And it creates the conditions for insurance to remain sustainable over the long term.
The IRG’s message is clear: we need to change the way we plan, build, and protect our assets. If we act early, strengthen our homes, and make better decisions about where and how we build, we can maintain the accessibility and affordability of insurance.
That’s why it’s important to start talking with clients about adaptation now. Not in the aftermath of the next severe weather event, when options are limited and emotions are running high, but in calmer times when there’s space to plan. Every small step taken today improves a client’s position in the future.
Brokers have always been central to recovery. In the years ahead, you’ll also be central to preparation. By helping clients understand their risks, interpret the information that’s coming, and act on it in practical ways, you’ll be making a direct contribution to their resilience and to the resilience of the communities we all serve.
If we do this well, we can create a future where New Zealanders are better prepared, better protected, and better informed. The IRG report gives us the framework. It’s up to all of us to turn it into reality.
Green insurance products are gaining traction
Green insurance products are gaining traction in the global market as both consumer demand for sustainable options and climaterelated risks intensify, according to new research from data and analytics company GlobalData.
A Q3 2025 poll conducted on Verdict Media sites found that 41.9% of insurance industry professionals consider it “very important” for insurers to offer environmentally friendly products, with a further 16.2% viewing it as “moderately important.”
By contrast, 30.5% of respondents deemed green products non-essential – a stance GlobalData warns could leave them lagging behind in product innovation.
“The challenges posed by climate change have led to the emergence of green or sustainable insurance, encompassing products and practices that integrate ESG factors into the value chain,” said Beatriz Benito, lead insurance analyst at GlobalData. “Equally, consumer awareness about environmental issues has increased, with many now expecting to see eco-friendly options, including insurance.”
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey underscores this trend. More than half of the respondents (51.3%) believe insurance companies have a role in tackling climate change, compared with 28.1% who disagreed and 20.6% who were unsure. The survey also revealed that 59.1% of consumers would be willing to pay more for policies from companies with strong ethical and
environmental commitments. Nearly 30% said they would pay up to 5% more.
Benito noted that green insurance offerings are not solely about meeting consumer preferences, but also about risk management. “Climate change is leading to more frequent weather events and natural disasters such as wildfires, floods, and tsunamis, which are resulting in higher claims,” she said. “Insurers can offer green products in a bid to mitigate climate-related risks.”
Practical measures could include discounts for energy-efficient homes and vehicles, as well as coverage incentives for using sustainable building materials. Such initiatives, GlobalData suggests, can help insurers manage potential losses while supporting environmental goals.
Regulatory pressures are also shaping the shift. “Governments and regulatory bodies are increasingly implementing regulations that require businesses – including insurers – to adopt ESG practices, as well as making disclosures,” Benito added. She said insurers demonstrating environmental commitments could strengthen brand reputation, boost consumer trust, and position themselves as forward-thinking, responsible organisations, potentially allowing them to command higher prices for their products.
GlobalData’s Q3 2025 poll on Verdict Media sites drew over 100 industry responses, while its Emerging Trends survey gathered 5,520 consumers from 11 countries, with at least 500 per nation.
Aussie broker giant CBN enters New Zealand with Folio deal
Australia’s Community Broker Network, a private insurance broker network backed by ASX-listed Steadfast Group, has launched in New Zealand by acquiring Folio’s local insurance broking network.
Folio, a New Zealand based insurance technology provider, retains its software platform while Community Broker Network (CBN) takes over its broking operations, which will now operate as CBN NZ.
Smart platform
Founded in 2020, Folio is a digital network that reduces admin for insurance advisers and connects them through a smart platform and support network.
Companies Office records show it has 13 shareholders, none of whom are CBN.
CBN is owned by Steadfast Group, Australasia’s largest general insurance broker network, supporting more than 4,000 brokers across 580 brokerages with licensing, technology and services.
CBN NZ says its focus will be on supporting authorised representatives (ARs) across New Zealand.
ARs are individuals or businesses authorised by a licence holder, such as broker network CBN, to provide financial advice or sell products on its behalf. The licence holder is legally responsible for their actions.
CBN has more than 340 AR businesses.
Remaining focused
ARs operate under the licensee’s compliance framework, but often run their own businesses and serve clients directly.
CBN chief executive Richard Crawford, said the move enabled both organisations to focus on their strengths – CBN on AR support and community, and Folio on platform innovation and digital enablement.
“This is an exciting step forward for both businesses. Folio has built a strong network of brokers, supported by innovative technology,” Crawford said.
Folio co-founder Roneel Kumar said Folio would focus on developing its broker platform, while CBN’s scale and experience will support its broker community.
A Folio post on LinkedIn said it retained full ownership of its technology, and gained the clarity and capital to focus on building an intuitive and innovative broker platform.
It also marked the beginning of its expansion into Australia, as its team expanded operations to service Australian-based brokers.
Insurers to impose stricter cyber insurance requirements
Regulatory pressures and a heightened risk profile are prompting insurers to impose stricter cyber insurance requirements on businesses in Australia and New Zealand, Arctic Wolf’s 2025 Cyber Insurance Report shows.
Companies in these markets must meet a minimum of six security controls to qualify for coverage, compared with a global average of five.
The report is based on research involving 400 professionals from cyber insurance broker and carrier companies worldwide. Findings indicate that organisations in Australia and New Zealand are 9% more likely to experience a significant cyber attack than the global average. This has led insurers to raise eligibility criteria to manage potential risks.
Globally, 72% of respondents expect cyber insurance premiums to increase over the next year. The report attributes this to the evolving threat environment, including the adoption of artificial intelligence (AI) systems, large language models (LLMs), and growing data privacy concerns, which are contributing to more sophisticated attacks. Coverage requirements in the region
Email security and identity and access management are the most commonly required solutions for eligibility in Australia and New Zealand, at 87% and 84% respectively. These figures exceed the global averages of 66% for email security and 53% for identity and access management.
The report also notes that advanced protections,
such as 24/7 security operations centres and managed detection and response services, are regarded by respondents as the most impactful measures for improving security postures.
Incident and claims trends
Ransomware was the most frequent type of incident leading to claims globally in the past 12 months, with 18% of insurance professionals reporting that clients were affected. Other common causes include data breaches, theft of funds and phishing.
AI is cited as one of the factors contributing to the changing nature of cyber threats, with increased adoption of AI and LLMs adding to the complexity of attacks.
Only 12% of policyholders globally submitted claims in the past year. Of these, a quarter were rejected due to policy gaps, indicating that some exclusions are not identified by businesses until after an incident.
Steve Hunter, director of engineering, ANZ at Arctic Wolf, stated that six security controls have become the minimum requirement for coverage in Australia and New Zealand, influenced by recent high-profile incidents and regulatory actions.
“High-profile attacks and the heightened risk of regulatory action, as seen in the Optus case, are raising the stakes for insurers and forcing local organisations to prioritise security operations as a critical business function,” said Hunter. “Insurance is no longer a financial safety net – it's a test of cyber readiness and business resilience."
CFC expands cyber trading capabilities in New Zealand
Rollout of Connect and Cyber Masterclass to make trading cyber easier for brokers
CFC,the specialist insurance provider, pioneer in emerging risk and market leader in cyber, announced the launch of its ground-breaking trading portal, Connect, and free on-demand Cyber Masterclass series in New Zealand to make trading cyber easier for brokers.
CFC is the only cyber market globally with the ability to quote risks up to $50m NZD off of a single question, and Connect delivers a smarter, faster and easier experience for brokers to generate comprehensive quotes tailored to their clients' unique risk profiles.
With just one piece of information – the client’s web address – brokers can auto-rate and bind CFC’s leading Cyber Proactive Response (CPR) product and deliver the broadest, clearest coverage available on the market to their SME clients in minutes.
“With SMEs making up 90% of businesses in New Zealand, our goal is to equip brokers with the knowledge and tools they need to ensure their clients have the right coverage to protect themselves against evolving cyber risks. Connect offers brokers a frictionless experience, delivering a smarter and faster way to get bindable quotes in minutes,” says Philippa Davis, CFC’s International Cyber Practice Team Leader.
Connect boasts an intuitive interface and cutting-edge trading capabilities, including:
Single-question quoting: Using a single piece of data, brokers can generate a comprehensive cyber insurance quote tailored to their client’s unique risk profile, as well as coverage variations most commonly requested by similar businesses.
Broker self-service: Unlike traditional quote and bind platforms, Connect enables brokers to adjust quotes –including limits and deductibles – without underwriter involvement, as well as bind quotes with a single click.
Limit and claims profile: In addition to a cyber quote, brokers receive a limit and claims profile based on their clients’ size, industry and location. These benchmarks give clients visibility into the most common limits purchased and the most common claims made by their peers.
Brokers can also access industry-specific cyber claims resources and educational materials to help their clients better understand the benefits of cyber insurance.
Access to CFC’s expert cyber underwriters: If necessary, brokers can connect with CFC’s cyber underwriting team, one of the largest in the world, through the portal, ensuring the same commitment to efficient service brokers have come to expect from CFC.
And to help all New Zealand brokers become cyber experts, CFC has launched its new free on-demand video learning series, Cyber Masterclass.
Cyber Masterclass
Fully accredited by the Insurance Brokers Association of New Zealand (IBANZ) and the Australian and New Zealand Institute of Insurance and Finance (ANZIF), the series is designed to improve brokers’ knowledge of cyber insurance and build their confidence in selling cyber to clients. CFC’s Cyber Masterclass explores a wide range of topics, including: the evolution and economics of cybercrime; the life cycle of a cyber claim; policy coverage and insuring clauses; cyber security controls and attack prevention; client conversation techniques, including how to approach the topic; and overcoming objections.
“Cyber insurance is one of the most dynamic lines of business in the world of insurance right now, and the fundamentals of cyber should be central to any broker training, as it’s no longer a specialist product. Yet the reality is
About CFC
that there remains a knowledge gap amongst brokers,” said Davis. “We view it as our responsibility to help brokers develop their understanding of this class of business and help every one of them become a cyber expert.”
CFC has also created a free-to-access library of resources to further support each broker’s individual learning journey. These include: CFC’s latest guide to cyber insurance; real-life case studies illustrating how CFC’s policy responds to cyber events; CFC’s interactive cyber policy; and client conversation starters and tips for handling client objections.
Brokers interested in building their knowledge and confidence when selling cyber to clients can tune in to CFC’s educational webinars on Wednesday 3 September and Thursday 18 September.
Brokers can sign up on www.cfc.com
CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber. Our global insurance platform uses cutting-edge technology and data science to deliver smarter, faster underwriting and protect customers from today’s most critical business risks. Headquartered in London with offices across Europe, North America and Australia, CFC has over 1,000 employees and is trusted by more than 200,000 businesses in 90 countries.
Tower unveils new research on attitudes to risk and resilience
Newresearch from Tower reveals that nearly half (46%) of Kiwis want more information about their property’s exposure to climate-related risks and natural disasters.
The findings also show that an overwhelming 86% of those surveyed believe it’s important to have information about their property’s risk profile.
The research, ‘Weathering change: attitudes to climate risk and resilience in New Zealand’ has been released as Tower expands its risk-based pricing and public risk ratings tool to include landslide and sea surge risks. Tower was the first New Zealand insurer to introduce risk-based pricing for earthquakes in 2018, followed by inland flooding in 2021.
The move aims to bring greater transparency to how climate and natural hazard risks are reflected in Tower’s insurance premiums – and to help Kiwis better understand the risks their homes face.
Tower CEO Paul Johnston says, “As weather events become more frequent and extreme, it’s important that people have information about the risks that could affect their property.
“We want to help people become more resilient to the impacts of climate change and prepared for the future. Like most Kiwis, we believe people should only pay for the risks that apply to their homes, not someone else’s. Expanding our riskbased pricing model is a fair and transparent way to support this.”
According to the research, 70% of New Zealanders think it’s fair for insurance premiums to reflect each individual property’s risk, and 68% support higher premiums for homes more prone to weather or natural disaster damage.
“Insurance is vital for the personal and economic resilience of our communities. Tower’s evolution of risk-based pricing
reflects New Zealand’s need to be more prepared. As a nation, we must focus our collective efforts on climate change adaptation, which is what will ultimately help keep insurance accessible and affordable in the long term,” says Johnston.
Tower’s risk-based pricing model uses detailed data and analytics to enable Tower to assess the likelihood that an individual property will be impacted by a certain type of weather event or natural disaster and the estimated cost of repairing damage. It aims to remove cross-subsidisation so that customers only pay for the risks their homes face, not anyone else’s.
Tower is working with some of the world's leading risk management and modelling companies to help calculate detailed risks specific to New Zealand addresses, including Moody’s for flood and earthquake risk-based pricing, Haskoning for sea surge risk-based pricing, and Swiss RE for landslide risk-based pricing.
When Tower launched flood risk-based pricing in 2021, around 90% of its home insurance customers received a reduction in the flood portion of their premium, at an average of around $25 per property.
With the addition of landslide and sea surge risk ratings, over 90% of Tower customers will now receive a reduction in the natural hazards portion of their premium, with average savings of $70 per property. Fewer than 10% of properties (those with higher sea surge or landslide risks) will see an increase in the natural hazards portion of their premiums, proportionate to their level of risk.
Tower will support customers with higher sea surge or landslide risk by smoothing annual increases over a period of up to four years.
Ombudsman Scam Alert
News that a financial ombudsman service had uncovered scams using its name and branding drew strong reader interest this week.
Financial
Ombudsman, Financial Services Complaints Limited (FSCL), says scams using its name and branding “…are causing concern.”
FSCL says that the scams involve websites and emails using its logo and name, and sometimes the names and branding of other legitimate organisations, too.
It says some examples include:
• Financial service providers falsely claiming to be members of the organisation (FSCL), when they are not.
• Emails requesting the release of funds or payment.
“If you receive a communication with our name, branding, or from someone claiming to work for us, or be a FSCL member, you can contact us to verify its legitimacy,” it says.
“If the communication requests payment, then it is likely a scam.”
FSCL’s Financial Ombudsman, Susan Taylor (pictured), told Riskinfo this highlights why people must be vigilant when sending money to any organisation.
“Always verify details, including full email addresses and website URLs, to ensure they are legitimate. If in doubt, contact the organisation directly using known contact information.”
She adds it’s also a good idea “…to check that organisations have the credentials they claim to have. It often pays to do a bit of research.”
The organisation also notes consumers can:
• Check the Financial Service Providers Register or contact FSCL to confirm whether a provider is a member of its dispute resolution service.
• Contact Netsafe.org.nz to report scams.
• Contact FSCL if you want to confirm whether a message is from them.
Susan Taylor - FSCL’s Financial Ombudsman
The importance of being earnest: Why employee honesty is the best policy
Russell* ran a plumbing business and insured all company cars under a commercial motor vehicle policy.
In February 2024, his employee, Nisha*, reported one of the company cars stolen. Shortly after reporting the theft to the police, she found the car on the side of the road. Nisha claimed she had tried to move it to a safe place, but lost control of the car and damaged two parked cars.
Russell claimed for the theft of the vehicle, which was damaged along with the two parked cars Nisha had hit. The insurer accepted the claim for the damage to the parked cars, but declined the claim for theft.
Why did the insurer decline the claim for theft?
The insurer identified inconsistencies in Nisha’s story.
Nisha told the insurer the car was stolen from her driveway, but told police it was taken from the street outside her friend’s house. The time Nisha claimed the damage had occurred differed from the time given by the owner of one of the damaged cars.
The insurer said that Nisha had not given complete and correct statements, so had breached one of the general conditions of the policy. Russell disagreed with the insurer’s decision. He said he had no direct knowledge of the events in question and had cooperated by allowing the insurer to interview Nisha. He stressed that Nisha’s explanation and statements were her own, not made on his behalf, and he did not endorse them. He also argued there was no proof that anything Nisha said was untrue.
The insurer responded that the policy allowed them to rely on Nisha’s statements. They argued that, given Nisha had made several inconsistent statements, they were not required to prove which parts were false. What was FSCL’s view?
In our review of the insurance policy, we determined that the requirement to provide complete and correct statements applied to both Russell and any driver using the vehicle with his consent.
This meant that Nisha was required to give complete and correct statements. We did not accept Russell’s argument that the insurer needed to prove the statements were false. Since Nisha made conflicting statements about the incident, not all of them could be true at the same time.
What was the outcome of FSCL’s investigation?
We concluded that it would be unfair to expect the insurer to pay out for a dishonest claim, so we suggested that Russell discontinue his complaint. As a result, Russell would need to pay for the repairs himself and disclose to any future insurers that a claim of his was declined.
Russell disagreed with our decision, but agreed to discontinue his complaint and consider legal action instead.
INSIGHTS FOR CONSUMERS
Under New Zealand law, insurers are entitled to honesty when a claim is made. Many policies include this as a general condition. Businesses should inform employees of the potentially severe consequences of being dishonest.
Theft not reported to local police
InMarch 2024, Ari* was on a holiday in Bali with her friends. On their last day, they checked out of their hotel and left their suitcases there while they went out. Ari packed all her valuable clothing and accessories in her backpack, which she took with her to keep safe.
Later that day, Ari was waiting for a taxi to take her back to her hotel and then to the airport. While she was waiting, a motorcyclist drove past her and stole her backpack. Ari tried chasing after him, but he was too quick. Ari said she tried asking the people around her for help, but they did not understand her because they did not speak English.
Ari got a taxi back to her hotel, and her taxi driver told her to report the theft to the airport police. Ari then went to the airport to catch her flight back to New Zealand, but she did not speak to the airport police. When Ari got home, she contacted her insurer to let them know what had happened. The insurer told her to report the theft to the local police and make an insurance claim.
A few months later, in July 2024, Ari submitted an insurance claim. She said it took her a lot of time to find the receipts for the items she was claiming for, which she needed in order to show proof of ownership. Ari said she had jewellery, designer clothing, and other valuable items in the backpack, worth over $17,000.
The insurer declined the claim because Ari did not report the theft to local police within 48 hours. The insurer explained that this was one of the terms and conditions of the policy.
Ari did not accept the insurer’s decision and complained to FSCL.
What were the parties’ views?
Ari explained that she was unable to report the theft within 48 hours because it happened only four hours before her flight back to New Zealand. This meant that she did not have time to
INSIGHTS FOR CONSUMERS
go to a local police station. Ari said she was also unable to call the police to report the theft because she did not have a local SIM card. Ari said that when she got back to New Zealand, she tried calling and emailing several police stations in Bali, but they did not respond.
The insurer said Ari had not followed the terms and conditions of the policy, so cover was not available. The insurer said it was a standard expectation that thefts of highvalue items are promptly reported to the local police. The insurer also said that because Ari had submitted the claim several months after the theft, they were unable to properly investigate the claim, because CCTV footage was no longer available.
What was FSCL’s view?
We agreed that the insurer was entitled to decline Ari’s claim. The policy wording was clear that any theft must be reported to the local police or other authority within 48 hours of the incident occurring. We told Ari that the general obligation was on her, as the policy holder, to ensure that she had read and understood the policy, including the terms and conditions of each section.
We acknowledged Ari’s view that she did not have time to stop at a police station. However, we noted that Ari could have reported the theft to the police at the airport, as her taxi driver had suggested.
We also told Ari we had reviewed other insurers’ travel insurance policies and found that all of them had a similar requirement. This supported that it was a common and reasonable requirement to include.
What was the outcome of FSCL’s investigation
We suggested that Ari discontinue her complaint. Ari did not respond, so we closed our investigation.
It is important to read your insurance policy, especially if something has happened that you know will lead to an insurance claim. Insurance policies have terms and conditions that you must follow. If you do not follow the terms and conditions, the insurer can decline your claim, even if you have a genuine claim.
Dispute over Range Rover repairs
InJanuary 2024, Paul’s* Range Rover was stolen. Paul notified his insurer and made a claim.
Just over two weeks later, the vehicle was recovered, and the insurer arranged for it to be repaired.
However, after the vehicle was returned, Paul raised concerns about several issues, including the air conditioning not working, water in the doors, broken capping around the steering column, and a warning light for the airbag. Paul also raised concerns about possible methamphetamine contamination.
Paul believed the issues were caused by the theft or the repair process. He said the vehicle had been left unused for long periods, which had affected the battery. He also believed the insurer had delayed the claim and said he was forced to buy a new car due to the delay.
The IFSO Scheme considered whether the insurer had correctly applied the policy. Under the policy, Paul needed to prove that the damage was caused by the theft or that the insurer’s repair estimate was unreasonable.
An independent assessor found no evidence that the issues were caused by the theft.
In resolution of the claim, the insurer had paid the repair costs of $29,770.43, while also paying a company $4,699.10
to replace the vehicle’s locks and carry out additional investigative work. The insurer paid $439.31, $217.64 and $2,832.46 for diagnostic checks and towing fees, respectively. It had also offered to test the vehicle for methamphetamine contamination, refund the diesel tax for kilometres travelled while stolen and pay the cost of re-registering the vehicle. The insurer had also offered $2,000 to acknowledge delays. In total, the insurer had paid $37,958.70.
The IFSO Scheme found that the insurer was not required to increase this settlement. There was no evidence that the issues with the vehicle were caused by the theft. The vehicle was recovered and was repaired in accordance with the repair condition in the policy, and the insurer had paid these costs..
Complaint not upheld
The IFSO Scheme considers whether an insurer has correctly applied the terms and conditions of the policy to the claim. Insurers rely on evidence, and if a claimant disagrees with a claim decision, they must prove that there was damage missed, or that the settlement is unreasonable.
Flight delayed by weather
Tama*held travel insurance for a trip to the USA.
During his trip, a connecting flight he was taking from Boston to Los Angeles was delayed, meaning he missed his flight back to New Zealand. As a result, he had to pay for one night’s accommodation and a new flight back to New Zealand. Tama provided evidence from the airline that the flight had been “delayed due to a crew issue.”
The insurer accepted the claim and paid Tama the maximum $1,000 benefit under a policy section for travel disruption. However, it declined to pay for the full cost of the replacement flight, as the policy only provided cover for delay caused by specified events, being “strike, riot, hijack, civil protest, weather, natural disaster or accident.”
Tama made a complaint because he said the pilots flying the plane had been delayed by the weather that day.
The IFSO Scheme asked Tama to provide further evidence, and he provided a new email from the airline confirming “the initial tarmac delay was caused by delayed pilots due to weather.”
In addition, the IFSO Scheme found some information online about weather issues in and around Boston on that day. The IFSO Scheme discussed the new information with the insurer, which agreed to accept and pay the claim. Complaint settled
Evidence or information to support a claim can determine whether an insurer accepts it or not. Sometimes, new evidence can be provided that changes the outcome of a claim.
FENZ Levy on boats
QUESTION
I have a client whose existing boat policy (insured elsewhere) is a GST-exclusive policy; therefore, the Levy has been calculated off the GST-exclusive price. Now I am obtaining some quotes, and these policies are GST-inclusive polices, meaning the FENZ levy is being calculated at a higher rate due to the GST portion being included.
Should the GST portion be included or excluded when calculating the FENZ Levy?
Example - current policy sum insured is $31,304 + GST, so the levy is $37.41 + $9.53 for trailer.
But quotes are $36,000 GST inc, so the levy is being calculated at $43.02 + $9.53 for the trailer.
EXPERT ANSWER: Stephanie Beswick, Fire & Emergency NZ
The sum insured should be the amount that would be payable to the insured in a total loss situation. Our Act does not specify if that is the GST inclusive or exclusive value; it just states it’s the sum insured or indemnity value of the policy.
If the policy specifies a value excluding GST, the policy or policy wording would state that the exclusive or inclusive value is the basis of a settlement; therefore, that is the value used for the levy calculation.
Your questions answered
Unoccupied spec homes & NHCover
QUESTION
We have a discussion going on about just completed spec homes, that are unoccupied.
Do these qualify as a dwelling, and therefore have NHCover available to them?
I can't find a specific mention anywhere, the closest being show homes - which aren't covered. My assumption is that a spec home can get cover however, as it is intended to be occupied as a dwelling once sold.
The assessment of whether a building, or part of a building, is a dwelling (the ‘dwelling test’) is a two-step test. This determination must be made at policy inception and each time the policy is renewed.
For a building (or part of a building) to be a dwelling under the NHI Act, it must be both:
• self-contained, and
• someone’s home or holiday home (or capable of/intended by its owner to be used as such).
The first step relates to the physical construction of the building. The second step relates to how the building is (or the owner intends for it to be) used.
In relation to your query, we have assumed you are satisfied that your building is ‘self-contained’ and meets the step one requirement.
In relation to the step 2 requirement, you have indicated that your building is unoccupied but that it is intended to be someone’s home.
Section 5.4 of the NHCover insurers guide (‘show homes’) sets out that where a building is being used purely to showcase a product or design and that building is not anyone’s home nor intended to be lived in as a home then that building would not be a dwelling. However, the guide also states that if, when the policy for that building is incepted or renewed, that building is on the market to be sold, and the intention is that once it is sold, it will be someone’s home and is capable of being a home, then it will be a dwelling.
You will need to determine (and be able to provide supporting information if required) whether, at policy inception or renewal, the building was intended to be (and capable of being) someone’s home or holiday home. If you confirm it was intended to be someone's home, then the building would be a dwelling under the NHI Act.
Insurer ' s liability on jewellery claims
QUESTION
A policy wording states the limit on what an insurer will pay is $5,000 in regards to unspecified jewellery, and they then issue a purchase authority to the jeweller for the full amount (true replacement cost was approx. $8,000). However, the jeweller then gives a discount, and the insurer is only charged $4,500.
The client feels like they have received the full benefit they are entitled to, but has the insurer fulfilled their obligation to pay the $5,000?
EXPERT ANSWER: Crossley Gates,
Glaistor Keegan
To answer your question first, the insurer never had an obligation to pay $5,000 based on these facts. Here is why.
An insured cannot profit from insurance; insurance only makes good a loss. The basis of settlement of a claim and the limit payable for a claim are two different considerations.
I assume the basis of settlement was replacement cost (new for old). What monetary loss did the insured suffer?
Answer: the replacement cost of $4,500. Was this above the limit payable under the policy of $5,000? Answer: No.
Therefore, the insurer correctly paid the $4,500 (ignoring any excess that applied).
The red herring in this scenario is the apparent discount given. The fact remains that the cost to the insured of the replacement new item was $4,500. Whether this amounted to a discount on the jeweller’s standard price is irrelevant to the calculation. This is what the jeweller charged the insured.
Your questions answered
Tenants responsibility for Landlords policy excess under commercial tenancies
Material Damage/BI/Contract Work
QUESTION
I was of the understanding that under Section 269 of the Property Law Act 2007 that tenants could NOT be held liable for the Landlord's commercial insurance policy excess. I have recently seen lease clauses that seem to attempt to circumvent that by stating 'The Tenant acknowledges that the Landlord has not fully insured the Property as there will be an excess...and for the purposes of section 271 (2) of the Property Law Act 2007 the
Tenant acknowledges and accepts liability for payment of the Tenants share of such excess.'
The Contract seems to state that the application of an excess amounts to 'not fully insuring' thereby exposing the Tenant to that cost. Thoughts? Does this effectively override Section 269 of the legislation?
EXPERT ANSWER: Crossley Gates, Glaistor Keegan
The issue continues to arise because the Law Company (formerly the Auckland District Law Society) responsible for the standard lease document in use, seems to hold a different view. It keeps stating in that document that the lessee is responsible for the lessor's excess regardless. I explain why this is incorrect below.
1. The Company appears to have overlooked the High Court decision of Linklater v Dickison [2017] NZHC 2813. The High Court held that a lessor cannot recover an insurance excess (regardless of the amount) relating to damage to a leased building from a lessee because of the compulsory exoneration provisions in section 269 of the PLA. The key paragraph is quoted below: [39] Section 269(1) plainly means that s 269 will apply once and if it is clear the lessor is insured for the damage that occurred or has covenanted with the tenant to be insured for that damage. The protection for the tenant is not limited to the extent of the indemnity or cover which the lessor is entitled to under her insurance policy. It is
the fact that there is such insurance, not the extent of it, which protects the tenant. The excess payable by a lessor goes to the extent of the cover or indemnity which is available, not to whether the property is insured for the damage that occurred.
2. I don’t believe that, properly interpreted, section 271 of the PLA is addressing insurance excesses at all. I say that for two reasons:
1. The section is addressing no insurance or less than full insurance. Another way of saying that is it is addressing whether the sum insured is zero or it is insufficient for the building (underinsured).
2. The previous section 270 expressly refers to an ‘insurance excess’ in subsection (1) (b). As those words are not used in the following section 271, it seems to be a reasonable indication that section 271 is not addressing an insurance excess when it is referring to ‘not fully insured’.
September
2025
September 9th
Topic: Significant breaches of the Fair Insurance Code 2024-25
Presenter: Claire Benjamin | IFSO
Calendar of events
IBANZ offers a range of CPD from quality presenters who specialise in providing a variety of fire and general presentations, as well as a selection of soft skills, ranging from time management to client care.
All webinars: 10.30 - 11.30am unless otherwise stated.
(Time: 10.30am-11am)
The Fair Insurance Code is a code of conduct developed by ICNZ, which sets out the standard of service member companies must provide to their customers. These obligations are in addition to those imposed by the law.
Presenter: Julia Hurren and Jonny Sanders | Duncan Cotterill
The education sector is a unique environment with a wide range of potential issues to be addressed through a distinctly different lens than many other sectors. In this presentation, Julia Hurren and Jonny Sanders of Duncan Cotterill will provide insight about these issues, their experiences with assisting schools, and their observations about how insurance requirements are developing in the education sector.
September 16th
Topic: Round up of recent complaints
Presenter: Susan Taylor | FSCL
Susan will give you some information about recent complaint numbers to FSCL and will talk about some recent complaints FSCL has investigated about insurance brokers and insurers, including the lessons learned from those complaints.
September 17th
Topic: New FENZ Levy Regulations: An overview
Presenter: Chantel Kokich and Stephanie Beswick
This presentation will cover the key changes impacting the calculation of levy payers Fire and Emergency levy liability due to the implementation of Part 3 of the Fire and Emergency New Zealand Act 2017 and the Fire and Emergency New Zealand (Levy) Regulations 2024, which come into effect on 1 July 2026.
September 25th
Topic: Marine 101 update
Presenter: Brad Alcorn | Fee Langstone
Session by Brad Alcorn, Fee Langstone.
Marine insurance is the oldest form of insurance in existence, with its principles developed over many centuries. These principles have significantly influenced other branches of insurance. Yet despite its long history and importance, marine insurance remains an area that is often not well understood, a fact made worse by the wide range of activities that it covers.
October 2025
October 8 th
Topic: Business Interruption– Claim example– and how well would your client’s cover have performed?
Presenter: Mark Anderson | Commercial Loss Management
We will discuss a Business Interruption calculation of loss as a worked example.
October 9 th
Topic: Don't get hacked
Presenter: Steven Mayo-Smith
Just how secure are you and ready to defend yourself and the business you work for against the increasing rate and sophistication of cyber-attacks? Understanding what to look for and what not to click on or trust is vital. This session will provide you with an understanding of the types of threats and intrusion techniques and the do’s and don’ts of protection.
October 16th
Topic: Work is killing me!
Presenter: Trevor Slater
As we race towards the end of another year and we know our clients and colleagues will want everything done ‘now’, how will we cope without being burnt out? Trevor will share with you how you deal with both, and provide some practical tips as well as reflecting on NLP and MBIT techniques of dealing with our daily lives.
October 22 nd
Topic: Faulty workmanship: extension or exclusion
Presenter: Emma Gabor | Gabor Law
Faulty workmanship exclusions are a top reason for declined claims, but what do they really cover? This webinar unpacks key interpretations, real case studies, and how courts and ombudsmen have weighed in.
October 23rd
Topic: Record keeping and other regulatory developments
Presenter: Damian Lawrence | Mosaic
A focused webinar designed to help brokers stay up to date with evolving regulations and best practices.
October 30th
Topic: Navigating cyber insurance in the age of AI emerging risks and claims trends
Presenter: Sophie Curlett | Roberstons Law
This seminar will explore the evolving landscape of cyber insurance, with a focus on how generative artificial intelligence is reshaping both cyber threats and the claims environment for New Zealand SMEs.
November 2025
November 5 th
Topic: Business interruption – insurance of wages
Presenter: Mark Anderson | Commercial Loss Management
Different ways to insure wages (including Dual Wages) – and what is best for your clients.
November 12 th
Topic: Liability insurance – defective products, tort, and the Consumer Guarantees Act
Presenter: Cecily Brick | Fee Langstone
Where damage results from the supply or installation of a defective consumer product, the Consumer Guarantees Act imposes additional liabilities on all of the parties involved in the supply chain. This seminar will focus on general liability claims and more.
November 20 th
Topic: Travel insurance claims and troubles
Presenter: Claire Benjamin | IFSO
(Time: 10.30am-11am)
Claire Benjamin, Legal Counsel IFSO, discusses travel insurance disputes, covering diverse areas such as travel cancellation and their circumstances, personal item claims, luggage loss and damage, and more extensive disputes over costs for medical treatment, fees and medical evacuation.
December 2025
December 3rd
Topic: Insurance industry legislation overview
Presenter: Tim Williams, Chapman Tripp, Katherine Wilson and Julie Walsham | IBANZ
(Time: 10.30am-12pm)
This session will provide an up-to-date overview of New Zealand’s regulatory framework relating to recent and proposed developments for key insurance legislation.
Roger Abel
Rothbury Group Limited
PO Box 1596
Shortland Street
Auckland 1140
Mob: 021 952 230 roger.abel@rothbury.co.nz
Neil Cousins
President
Broker Services Manager
Steadfast NZ Ltd
PO Box 180
Shortland Street
Auckland 1140
Tel: 09 309 7942
Mob: 021 377 942 neilc@steadfastnz.nz
Samuel Kerr
Vice President Insurance Broker
SHARE
PO Box 305415
Triton Plaza
Auckland 0757
Tel: 09 476 1670
Mob: 021 980 435 sam.kerr@sharenz.com
Katherine Wilson
Chief Executive
DDI: 09 306 1734
Mob: 027 8708 150 katherine@ibanz.co.nz
Tony Bridgman
Immediate Past President
Executive Director
Marsh Ltd PO Box 2221
Auckland 1140
Tel: 09 928 3015
Mob: 021 873 399 tony.j.bridgman@marsh.com
Jill Comley-Forbes
Chief Executive Officer
Willis New Zealand Ltd PO Box 2220
Christchurch 8140
Tel: 03 366 5715
Mob: 027 451 8098 jill.comley-forbes@wtwco.com
Angus McCullough Vice President
General Manager Marketing & Chief Officer
Aon New Zealand PO Box 1184
Shortland Street, Auckland 1140
Tel: 09 362 9059 angus.mccullough@aon.com
Karen Scard
Administration & Accounts Manager
DDI: 09 306 1738 karen@ibanz.co.nz
Julie Walsham
Member Services & Technical Manager
DDI: 09 306 1733
John Chandler
Chief Commercial and Client Officer
PIC Insurance Brokers Ltd PO Box 58842
Botany
Auckland 2163
Tel: 09 281 6870
Mob: 029 969 3878
john.chandler@pic.co.nz
Duane Duggan
Head of Insurance Legal
Arthur J. Gallagher & Co (NZ) Limited PO Box 68910
Wellesley Street, Auckland 1141
Tel: 09 357 4805
Mob: 021 833 286 duane.duggan@ajg.co.nz
Dave Penfold
Director – New Zealand
PSC Connect NZ Limited PO Box 105-241
Auckland City
Auckland 1143
Tel: 09 869 6674
Mob: 021 409 400 dpenfold@pscconnect.co.nz
Mob: 021 0822 2727 julie@ibanz.co.nz
Physical address: The Crate, 28 Constellation Drive, Rosedale, Auckland 0632
Mailing
Abbott Group
Abraham & Associates Ltd
Christchurch
Christchurch
Adams Trimmer Insurance 1992 Ltd Whangarei
Advance Insurance Services Ltd Paeroa
Affiliated Insurance Brokers Ltd
Wellington
AIB Group Insurance Ltd Lower Hutt
Albany Insurance Canterbury Ltd Christchurch
Albany Insurance Services Ltd
Auckland
Allied Financial Advisors Limited Christchurch
Amicus Brokers Ltd Christchurch
Aon New Zealand
Arthur J. Gallagher & Co (NZ) Limited
Baileys Insurance Limited
Auckland
Auckland
Auckland
Balance Insurance Advisors Ltd Whangarei
Bay Insurance Brokers Ltd Tauranga
BMS Risk Solutions Limited Christchurch
Bridges Insurance Services Limited Hamilton
Builtin Insurance Brokers Limited Tauranga
Cambridge Insurance Brokers Ltd
Cambridge
Capital Risk Solutions Limited Wellington
Cartwrights Ltd Ashburton
Coast Insurance Whangaparaoa
Commercial & Rural Insurance Brokers Ltd
Crème Insurance
Alexandra
Auckland
Dawson Insurance Brokers (Rotorua) Ltd Rotorua
Eclipse Insurance Brokers Limited
Auckland
Emerre & Hathaway Insurances Limited Gisborne
FG Insurance Services Gisborne
First Lane Insurance Ltd Blenheim
Folio.Insure Limited
Frank Risk Management
FundAGroup Insurance Brokers Limited
Auckland
Hamilton
Auckland
Futurisk General Insurance Ltd Palmerston North
Grayson & Associates Ltd
Auckland
Greenlight Insurance Brokers Ltd Rotorua
Gregan & Company Ltd Papakura
GSI Insurance Brokers
Auckland
GSI South Christchurch
GYB Insurance Brokers Ltd
Hazlett Insurance Brokers Ltd
Hood Insurance Brokers NZ Ltd
Howden Commercial & Affinity Ltd
Howden Corporate Limited
Hurford Parker Insurance Brokers Ltd
Hutchison Rodway Ltd
ICIB BrokerWeb
Ingerson Insurances Ltd
Insurance Advisernet NZ Ltd Auckland
Insurance Brokers Alliance Ltd Invercargill
Insurance Design Limited Warkworth
Insurance Partners Group Tauranga
Insurance People (Fire & General) Limited Auckland
JenBro Insurance Taupo
JRI Limited New Plymouth
Lockton Companies NZ Limited Partnership Auckland
Malcolm Flowers Insurances Ltd Taupo
Marsh Ltd Auckland
McDonald Everest Insurance Brokers Ltd New Plymouth
Medical Assurance Society
New Zealand Limited Wellington
MW Insurance Auckland
Nelson Marlborough Insurance Brokers Ltd (NIB) Nelson
Neville Newcomb Insurance Brokers Ltd Auckland
Northco Insurance Brokers Ltd Masterton
Northcrest Insurance Brokers Ltd Auckland
O'Connor Warren Insurance Brokers Tauranga
OFS Insurance Brokers Ltd Dunedin
Omni Fire & General Ltd Auckland
Paramount Insurance Agencies Ltd Auckland
Partridge Advisory Limited Auckland
Paterson & Co NZ Ltd Auckland
Penberthy Insurance Ltd Auckland
PIC Insurance Brokers Ltd Manukau
Prestige Insurance Broker Services Ltd Auckland
Primesure Brokers Ltd Auckland
Property and Commercial Insurance Brokers Feilding
Provincial Insurance Brokers Limited Masterton
PSC Connect NZ Limited Auckland
PSC Insurance Brokers NZ Limited Auckland
Rothbury Group Ltd Auckland
Runacres Insurance Ltd Christchurch
SHARE Auckland
Sit & Blake Limited Auckland
South Pacific Insurance Brokers Ltd Auckland
Straightline Advisory Limited Auckland
Thames Valley Insurance Ltd Thames
Lower Hutt
Christchurch
Auckland
Auckland
Auckland
Hastings
Auckland
Auckland
Wellington
The Advisers for insurance New Plymouth
Thorner General Insurances Ltd Upper Hutt
Towes Insurance Brokers Ltd Te Aroha
Vercoe Insurance Brokers Ltd Morrinsville
Vision Insurance (S.I.) Ltd Ashburton
Wanganui Insurance Brokers Ltd Wanganui
Wealthpoint General Limited Auckland
Willis Towers Watson Auckland
New Zealand's professional association representing the interests of insurance brokers, risk managers and consumers.
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