News

See articles and updates on topical issues, together with information sheets, brochures, annual reports, reviews and other resources in our document library.

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Hit to pocket when pre-holiday illness strikes

The list of most expensive domestic claims from New Zealand’s leading travel insurer is a reminder to purchase travel insurance as soon as a trip is booked - the highest claims came from customers who hadn’t yet packed their bags.

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West Auckland flooding victims disappointed by insurance company dealings

TVNZ Fair Go reporter Alistar Kata on recent West Auckland flood victims' experience with their insurance claim. Karen Stevens Insurance and Financial Services Ombudsman says any evidence for damage and loss is going to help your claim.

Published 27 September 2021

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Consumers lack rights awareness

One-third of people are unaware of crucial legislation affecting lenders and borrowers, the Ministry of Business, Innovation and Employment (MBIE) reveals:

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2-month delay to new Credit Contracts and Consumer Finance Regulations

The NZ Government has agreed to a short delay to the full commencement of the Credit Contracts Legislation Amendment Act 2019 by two months, to 1 December 2021.

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Many kiwis don't understand - or have no interest in reading, their insurance.

Research commissioned by ICNZ of 1000 Kiwis shows just over half (54%) know what their insurance covers them for.

- Newshub, photos provided by AA Insurance


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Widow battles insurer for funeral payout

A widow contacted the IFSO Scheme for expertise when her insurer stalled on funeral payout.

-Stuff Jane Matthews July 29 2021

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'Finfluencer' guide announced

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has released a guide to talking about money online following concerns some social media influencers and bloggers may be straying into regulated financial advice.



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Icy weather prompts fire warning

Insurance and Financial Services Ombudsman, (IFSO), Karen Stevens says the cold weather is a timely reminder for people to check their use of appliances and their insurance policies.


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New CCCF Act to drive a culture of compliance from the top down

Directors and senior managers of lenders (including some mobile traders) must comply with the Credit Contracts and Consumer Finance Act 2003 (CCCF Act) from 1 October 2021.

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Canterbury floods - are you making a claim?

Insurance and Financial Services Ombudsman (IFSO), Karen Stevens, has important tips for people facing the task of setting their homes to rights.

-Rob Stock, Stuff, Monday 1 June 2021

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Need help with your finances? Find a financial mentor

Here is a great example of the value of financial mentors - helping people navigate financial hardship. To complain about hardship decisions made by lenders, contact us at info@ifso.nz

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Canterbury flood residents: document the damage before you clean up

After the severe flooding in Canterbury, we urge affected residents to photograph the damage, and contact your insurer before you clean up.

- Story from The Star, 31 May 2021


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