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


New sustainability benefit for Tower house insurance

Tower Insurance has made a change to how it supports customers dealing with the total loss of their house from events like fires or floods to incentivise them to rebuild their houses more sustainably.

A payment of up to $15,000, on top of their usual insurance pay out, is available for customers who have their homes severely damaged or completely destroyed by a fire or flood.

It is an incentive to choose sustainable building materials and features to their new homes, such as natural paints, water efficient taps or solar panels.
Tower’s Chief Executive Officer Blair Turnbull says that climate change along with more frequent severe weather events are presenting increasing risks for Kiwi homes.

“We have seen a rise in the number and severity of weather events in recent years that’s impacting our customers. This sustainability benefit reflects Tower’s determination to make meaningful contributions towards building a sustainable future for New Zealand homeowners,” says Turnbull.

Mike Burrell, Executive Director of the Sustainable Business Council, says energy efficiency and carbon emissions are becoming core considerations when building homes.

“Rebuilding homes more sustainably will result in people living in warmer, drier, and healthier homes that generate lower emissions and are easier to heat and cool.

“But we know that there is always a cost consideration for New Zealand when building or rebuilding properties, so any incentives from the private sector is a very welcome move.”

The benefit came into effect for new customers on 27 August and will apply for existing customers at their next renewal date.

It builds on Tower’s commitment to sustainability, which is backed by the insurer’s work with Universities to better understand the risks associated with climate change, its recent move to 6 Green Star rated building and its membership of the Sustainable Business Council.

About Tower Insurance
Born and bred in New Zealand, Tower has been supporting Kiwis when they need it most for 150 years. In that time, we’ve grown to operate across New Zealand and the Pacific Islands, providing our customers with cover for their houses, cars, contents, businesses and more.

While our heritage is important to us, we’ve also set our sights on the future. Our goal is to meet the 21st century head-on with customer focussed, digital-first insurance solutions for Kiwis and their communities.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Science Media Centre: Understanding DDoS cyber attacks – Expert Reaction

Cyber attacks have hit several New Zealand organisations this month, disrupting their online services. The Distributed Denial of Service (DDoS) attacks were the same kind of cyber attack that affected the NZX around this time last year... More>>

Financial Markets Authority: Spike in investment scam complaints since COVID

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is warning New Zealanders to be on the lookout for three unique types of scams that have been on the rise since the start of COVID-19. The warning comes as the FMA responds to a rise in complaints about investment scams and fraud lodged with the regulator in the first half of this year... More>>

Statistics: Strong export growth narrows current account deficit to $3B

The seasonally adjusted current account deficit narrowed to $3.0 billion in the June 2021 quarter, Stats NZ said today. The current account deficit was $2.2 billion narrower than the previous quarter due to an increase in value of goods exports (up $1.4 billion) and services exports (up $1.7 billion... More>>

Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>

Energy-from-waste: $350 Million Plant To Deliver Renewable Energy Considered

Investigations have begun into the viability of building an Energy-from-Waste plant that will safely convert 350,000 tonnes of waste, that would otherwise be dumped into South Island landfills annually, into renewable electricity... More>>

Olam: Confirms plans for commissioning of NZ dairy plant

OFI, a global leader in natural and sustainable food ingredient solutions, today confirmed plans to develop a new dairy processing facility at Tokoroa. It is now taking expressions of interest from potential farmer suppliers, employees, contractors, and general trade suppliers... More>>