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


New Zealand Insurers Agree To Sector Wide Pledge To Support Customers During Covid-19 Crisis

The Insurance Council of New Zealand (ICNZ) and its members have announced a set of core principles they have each pledged to use to guide their individual response to support their customers and suppliers during the Covid-19 crisis.

Tim Grafton, CE ICNZ, says the principles are the result of the industry banding together as it responds to the evolving Covid-19 situation and the various challenges it presents for the sector to support.

"Together our members, which represent all insurance except health and life insurance, are committed to continuing to provide good advice, good service and a good claims experience for all New Zealanders - regardless of the challenging and uncertain times we find ourselves in."

Insurance plays a critical role in times of crisis protecting over $1 trillion of New Zealand’s assets and liabilities. It is also a major employer and contractor of services, supporting thousands of families to maintain their incomes in these challenging times.

Mr Grafton says; "Insurance is a vital service to support the financial resilience of New Zealand - and it is still very much open to support its customers and their claims.

"As an identified essential service during the Alert Level 4 period customers can have confidence that insurers will continue to help their customers - regardless of where or how their staff are working."

The 10 core insurance principles for Covid-19 are:

1. We are an essential service that is open for business and will take all necessary steps to maintain operations to safeguard and protect New Zealand

2. We will continue to handle all insurance claims and support our customers

3. We will respond flexibly and responsibly to those in genuine financial hardship or are vulnerable or have difficulties communicating with us

4. We urge all customers to contact their insurer if they are in genuine financial hardship

5. We will continue to meet the high standards set in the Fair Insurance Code that cover all our dealings with customers If the crisis prevents us from meeting the time-frames in the Code to respond to claims or complaint we will explain why and keep you informed about the progress of your claim at least every 20 days

6. We will be transparent and open in all our communications

7. We will use our repair networks and suppliers (where appropriate or possible) to settle claims, noting as an essential service we are limited to making repairs to when our customers’ health and safety is at risk or to support those in essential services

8. We and our agents will always strictly adhere to all health and safety requirements including measures to reduce and eliminate the spread of Covid-19

9. We recognise the critical importance of our supply chains and the cash-flow pressures they may be under, so we will ensure there is prompt payment for their services

10. We will work with our brokers and distributors of insurance to help them to support their clients and our customers. We urge all businesses to work with their broker and insurer to ensure they have the appropriate insurance in place during the crisis.

"Our members appreciate that the coming months will bring many new challenges for both them and their customers," says Mr Grafton.

"Should a customer find themselves facing financial hardship we urge them to contact their insurer or broker who can talk them through a range of measures to ensure their cover best meets their current needs.

All ICNZ members have activated their business contingency plans (BCP), scaling up their work from home capacity to protect their staff and are well equipped to maintain their level of service to their customers. Should a service be required in person all necessary steps to ensure it is done in a way that limits or eliminates the risk of spreading Covid-19 will be taken.

For further information

More information on essential services can be found at and the list of insurers and their essential supply chain functions can be found on the RBNZ website

About ICNZ and its members

The Insurance Council of New Zealand (ICNZ) is a representative body established in 1895 to represent fire and general insurance companies. It has 28 members who collectively write more than 95% of all fire and general insurance in New Zealand a full list can be found on our website -

All Council members are licensed under the Insurance (Prudential Supervision) Act 2010 and are signatories to the Fair Insurance Code that requires insurers to act ethically. The Council also performs an important role in informing and educating consumers about key insurance issues and risks.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Maritime NZ: NZ Joins Global Initiative Keeping Ports Open And Freight Moving

New Zealand has joined an international port authorities’ global initiative for safe and efficient movement of goods and shipping during the COVID-19 crisis. World-wide, 56 port authorities have agreed how they will work together facilitating maritime ... More>>


National: National Backs Businesses With $10k JobStart

National will provide a $10,000 cash payment to businesses that hire additional staff as part of our commitment to keeping New Zealanders in jobs, National Party Leader Todd Muller and Finance spokesperson Paul Goldsmith have announced. Our JobStart ... More>>


DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>


Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>


ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>


Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>


RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>


Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>


Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>


Auckland Airport: Thousands Of Kiwis Travelling For Queen’s Birthday Weekend

Confidence in domestic travel is beginning to steadily ramp up, with thousands of Kiwis travelling within New Zealand for Queen’s Birthday.
Nearly 400 flights will be operating to and from Auckland Airport over the long weekend... 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>>


Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>


RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>


Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>


Government: Milestone In Cash Flow Support To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>