News

See updates and articles from a range of publications about insurance and financial services, including industry updates and consumer tips.

General insurance enquiries rise, complaints drop

"The best time to understand insurance is before you need it - every day we hear about problems that could have been avoided if people had been better informed. That’s why we’re sharing real stories about real complaints.” Karen Stevens, IFSO.

Story from Insurance Business NZ: 16 September, 2020

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Rise in complaints about consumer credit, loans

458 (12%) of all contacts to the IFSO Scheme last year were about loans or credit contracts. Responsible lending involves protecting consumers against substantial hardship.

Story from Stuff: 14 September, 2020

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IFSO Scheme releases Annual Report

The IFSO Scheme received 3,922 enquiries over the past year and has investigated 282 complaints about insurance and financial services. Misunderstanding and miscommunication continue to be common complaint issues.

See the IFSO Scheme Annual Report 2020

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The future possibility of pandemic cover?

Covid-19 has highlighted the vulnerability of individuals and businesses. An ICNZ-led panel discuss the difficulties and possibilities of pandemic insurance cover, and a private-public approach.

Story from Insurance Business NZ: 19 August, 2020

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"Little lies" have big consequences

"The long term consequences of insurance fraud are hard hitting. Declined claims are the tip of the iceberg," says IFSO Karen Stevens. Check your policy, ask questions, and tell the truth!

Story from Stuff, 27 July, 2020

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Study: 1 in 6 kiwis lie about car insurance

Tell the truth! This study shows more kiwis need to know that there's no such thing as little lies when it comes to insurance, and the consequences can be dire. See our tips under Tips & Cases.

Story from Stuff: 20 July, 2020

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$33K Ute not covered: check your policy

A Southland family are urging people to check their insurance policies after a ute accident left them $33K out-of-pocket. Check your cover before you might need it. See our Tips & Cases section.

Story from Stuff: 15 July, 2020

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Financial advice regime to begin 15 March

Information on how to access dispute resolutions services is one of the disclosure requirements for financial advisers, aimed at ensuring consumers are better informed. The new regime begins 15 March.

Story from Good Returns: 25 June, 2020

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Introducing Kendall Flutey & Teresa Tepania-Ashton

CEO of financial literacy platform Banqer, Kendall Flutey, and Māori Women’s Leadership Inc CEO, Teresa Tepania-Ashton, will contribute strongly to the future direction of the IFSO Scheme as Commissioners.

Story from Insurance Business NZ: 13 June, 2020

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Don't get stung by your loan, says Commerce Commission

If you're after a loan, make sure you what you’ll pay all up before you lock it in. The Commerce Commission 'don't get stung by your loan' campaign explores the cost of loans, borrower rights, and lender obligations. See the video.

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Retirement Commissioner on financial vulnerability

A survey of New Zealanders undertaken during Level 4 showed 40% of households were at risk of hardship, and says Retirement Commissioner Jane Wrightson.

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Take time before taking insurance relief

Think carefully before taking payment relief from personal insurance - ask about the consequences and find out about the options and assistance available first.

Story from Stuff: 21 May, 2020

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