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


FSC Guidance On Coronavirus And Life Insurance

As the coronavirus situation continues to escalate the Financial Services Council says there are some important issues for New Zealanders with life and health insurance to be aware of.

“In this time of uncertainty, if you are concerned, the first and most important thing to do is to take a good look at your insurance policies, and if you have any questions speak with your insurer or trusted financial advisor”, Richard Klipin, CEO of the FSC says.

“Our members have appropriate plans in place to support customers at this time.

“If you are thinking about taking out a new life insurance policy or updating current cover, you will be asked a number of key questions about your health. Be upfront with your provider and answer all the questions as diligently as possible, including where you have recently travelled.

“We know that many people are unsure if the virus will impact on their insurance, or if they will be covered for any health-related events. It’s much better to seek clarity on your cover.

“Life and health insurance policies provide cover against a wide range of risks, and every policy is different so speak to your insurer or your adviser if you are thinking about making any changes.

“It is also important to emphasise that the response to coronavirus in New Zealand is a public health one that is led and managed by the Ministry of Health.

“This is a fast evolving but very serious situation and all our members are working to ensure that they can give both new customers and current policy holders the certainty and information they need.

“The FSC is working closely with government, regulators and our own members to ensure the right information is also being proactively communicated to customers. Many providers have already issued advice to their policy holders and will continue to do so over the coming weeks as we find out more.

“We’ll continue to closely monitor Coronavirus and its impacts on the insurance market”, concluded Klipin.

The FSC has developed five simple tips for Kiwis concerned about their insurance, KiwiSaver, and other investments at this time:

  1. Ensure you prudently manage your cashflow over this time
  2. If you have insurance or are a KiwiSaver member check and review your policy documents
  3. If you have concerns or questions talk to your insurer, KiwiSaver provider, fund manager or financial adviser.
  4. Use official and verified information sources only
  5. Be informed, be sensible, keep calm and stick to your game plan.

More useful information on the Coronavirus response can be found at:

Ministry of Health

New Zealand Government

MBIE (workplace related information)

© Scoop Media

Business Headlines | Sci-Tech Headlines


Energy Sector: Meridian Spilled Water To Hike Electricity Prices - Authority Ruling

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million. More>>


XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>


Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>


Economy: COVID-19 Contributes To 1.6 Percent Fall In March Quarter GDP

Gross domestic product (GDP) fell 1.6 percent in the March 2020 quarter, the largest drop in 29 years, as the initial effects of COVID-19 restrictions impacted on economic activity, Stats NZ said today. This quarter’s GDP results showed a widespread drop ... More>>


Electricity: Transmission Pricing For A Low Carbon Future

The Electricity Authority has decided on new guidelines for transmission pricing. James Stevenson-Wallace, Chief Executive of the Electricity Authority says the new guidelines will deliver significant benefits to consumers, through lower electricity ... More>>


ASB: Investor Confidence Falls To Four-Year Low

As the world grapples with the fallout from the most significant pandemic the world has seen in a century, economic concerns are weighing on investors, dragging investor confidence down to a four-year low in the first quarter of the year. For the three ... More>>


Science Media Centre: Funding For R&D In New Zealand – Expert Reaction

Research, Science and Innovation Minister Dr Megan Woods has today announced $401.3 million funding for research and development through Budget 2020 and the COVID Response and Recovery Fund. The fund includes $150 million for an R&D loan scheme, ... More>>


Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>


RNZ: Fuel, Alcohol Costs To Go Up From Today

The increase today in the taxes on fuel, road user charges and alcohol is being called a tone-deaf move. More>>


Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>

DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>


Potatoes New Zealand: Protecting NZ Fries As Part Of PNZ Pandemic Recovery & Transformation Plan

Potatoes New Zealand has met with Minister Faafoi this week to discuss investigating the potential importation of heavily discounted frozen potato chips into New Zealand. With MBIE’s support we are undertaking an investigation to gather evidence of the ... More>>


New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>


Science Media Centre: Understanding 5G Concerns – Expert Q&A

Recent attacks on cell phone towers have brought concerns over the rollout of 5G technology into sharp relief.
While scientific research has consistently shown that the technology does not adversely affect human health, public concerns about its impact have spread around the world, fueled in part by growing misinformation online. The SMC asked experts to comment... More>>


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>