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29 May 2024 18:23
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  •   Home > News > Business

    A warning that New Zealand needs to act now, to prevent further insurance spikes in the years to come

    A warning that New Zealand needs to act now, to prevent further insurance spikes in the years to come


    Stats NZ figures compiled by Newstalk ZB show home insurance premiums have increased 24.6 percent in the past year, while contents insurance premiums have increased 28-percent.

    Insurance Council Chief Executive Kris Faafoi says it's partly due to a 25 to 40 percent increase in reinsurance costs.

    He says if New Zealand can mitigate risks to coastal and flood-prone communities, that will be reflected in the reinsurance costs insurers are having to pass on to consumers.

    © 2024 Newstalk ZB, NZCity

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     Top Stories

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    A group of All Blacks will get back on the park this weekend for Super Rugby sides after layoffs More...


    BUSINESS BUSINESS
    Smith and Caughey's chair says a culmination of issues are forcing them to shut up shop More...



     Today's News

    Entertainment:
    Geezer Butler had to leave out pages and pages of tales from his memoir to avoid being "sued" 18:17

    Rugby:
    A group of All Blacks will get back on the park this weekend for Super Rugby sides after layoffs 18:17

    Cricket:
    Australian cricket selector and fielding coach forced to play in Twenty20 World Cup warm-up 18:17

    Business:
    Smith and Caughey's chair says a culmination of issues are forcing them to shut up shop 18:07

    Environment:
    Blustery winds are still causing trouble across the upper North Island -- and a wave of thunderstorms is sweeping across Auckland 17:57

    Entertainment:
    Shania Twain has "a lot of" emotional and physical scars" 17:47

    Entertainment:
    Trevor Noah finds it "strange" when celebrities try to be friends with each other just because they are famous 17:17

    Rugby League:
    Worries persist within New South Wales Origin camp after halfback Nicho Hynes failed to test out a troublesome calf injury in their first training session 17:17

    Law and Order:
    Police are asking for information - with serious concerns about a 41-year-old tourist from China, missing in Christchurch 16:57

    Entertainment:
    Kerry Katona "can't cope" as her children have started to move out 16:47


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