Media Releases

Insurance & Savings Ombudsman Karen Stevens has a Money Week reminder about the strict criteria around withdrawing your KiwiSaver funds early.

Money Week is a timely reminder to read your documents and keep asking questions, says Insurance & Savings Ombudsman Karen Stevens.

Last year the Insurance & Savings Ombudsman Scheme resolved the largest number of complaints since 1998, with 3,215 complaint enquiries and 300 complaint investigations.

Insurance & Savings Ombudsman Karen Stevens says good client communication and clear processes can help financial advisers prevent client dissatisfaction.

Up to 10 percent of calls received by the Insurance & Savings Ombudsman are questions about insurance excesses.

The Insurance & Savings Ombudsman Scheme continues to receive calls from Canterbury residents who are not eligible for a temporary accommodation benefit when their homes are being repaired or rebuilt.

“Many people do not realise they cannot withdraw their KiwiSaver savings early unless they meet strict criteria,” says Insurance & Savings Ombudsman Karen Stevens.

The onus is on home owners to check their house insurance policies carefully. “We want homeowners to check that the amount they are insuring their house for is enough to rebuild it in the event of a disaster,” says Karen Stevens.

Insurance & Savings Ombudsman Karen Stevens urges people to check that the amount they are insuring their house for will be enough to rebuild it in the event of a disaster.

Karen Stevens, Insurance & Savings Ombudsman, advises residents affected by the Canterbury floods to call your insurance company before you start your clean up.