Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Accident Regulator Releases New Figures

For immediate release
6 July, 1999


The Department of Labour’s Accident Insurance Regulator’s office has today released updated figures relating to the new accident insurance market.

New Zealand employers had to sign up with a registered insurer by 5pm on 25 June, those that didn't were allocated to the SOE insurer, @Work Insurance Ltd. This allocation is for a transitional contract for a minimum of three months.

Since that time, the Regulator’s office has been processing raw data received from the seven registered insurers participating in the scheme.

Of the approximately 220,000 organisations recorded on the Regulator’s database, a total of around 121,000 are employers who have taken accident insurance contracts with a registered insurer before 25 June.

The 121,000 employer contracts cover around $40 billion of liable earnings in the private market out of an estimated $50 billion. These contracts are worth more than $500 million in written premium, covering approximately 80 per cent of the workforce.

The Regulator allocated approximately 99,000 organisations to @Work.

In addition to the 121,000 employers who have chosen an insurer, there are around 15,000 self-employed contracts reported to the Regulator.

Self-employed can either contract with a registered insurer to cover their work, and non-work related injuries, or stay with ACC. They have not been required to meet any deadlines.

Employers can choose either to stay with @Work or choose another insurer from 1 October at the end of the transitional contract.

The seven current registered insurers are Farmers Mutual Accident Care, HIH WorkAble, Fusion Insurance Services, MMI General Insurance, New Zealand Insurance, Cigna and @Work Insurance


© Scoop Media

Business Headlines | Sci-Tech Headlines


Provincial Growth Fund: Backing Growth In Gore

“Today’s announcements are a $1.6 million investment towards the Maruawai precinct project, which involves the redevelopment of the Hokonui Moonshine Museum and creation of the Maruawai Heritage Centre...” More>>


Inflation: Cigarette Price Rise Offsets Cheaper Petrol

The consumers price index (CPI) rose 0.1 percent in the March 2019 quarter, due to higher prices for cigarettes, Stats NZ said today... In the year to March 2019, the inflation rate was 1.5 percent, down from 1.9 percent in the December 2018 year. More>>


Government Suppliers: MBIE Reinstates Fuji Xerox As A

The government has reinstated Fuji Xerox as a supplier despite an ongoing Serious Fraud Office investigation into accounting irregularities that led to losses of more than $300 million. More>>


PSI: Service Sector Growth At Lowest Level Since 2012

April 15 (BusinessDesk) - New Zealand’s services sector activity grew at its slowest pace in more than six years in March, potentially signalling a slowdown in the domestic economy. More>>