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Life insurer response to financial hardship

Graeme Lindsay, Strategy Financial Services, provides a summary of the support offered by various life insurers for customers experiencing financial hardship due to COVID-19.

Story from Good Returns: April 15, 2020

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General insurance response to financial hardship

If you are facing hardship, contact your insurer to discuss options to keep your insurance in place. The Insurance Council says insurers have processes in place to support people experiencing vulnerability or hardship due to COVID-19.

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Life insurer COVID19 response

Life insurers are asked about their approach to underwriting new insurance applications, and measures for customers facing financial stress, including premium waivers.

Story from RiskInfoNZ: April 7, 2020

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COVID-19 guidance for lenders and borrowers

Commerce Commission lender and borrower guidance includes: responsible lending principles, responding to borrowers in financial stress, and applying for changes to loans.

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Insurers up and running during lockdown

Insurance teams are working from home to provide their service during lockdown. They're asking customers to be patient and to get in touch online where possible as phone waiting times are long.

Story from Insurance Business Mag: 2 April, 2020

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Kiwisaver hardship withdrawals a last resort

If you're under financial stress, check out the Govt support package: www.covid.govt.nz or call the helpline: 0800 779 997 before applying for Kiwisaver hardship withdrawals, says the Retirement Commissioner.

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COVID-19: The IFSO Scheme is available

Please contact our free and independent service during this time. The IFSO Scheme team is working remotely and we welcome your questions, enquiries and complaints. Arohanui.

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NZ Govt website: Unite against COVID-19

All government COVID-19 updates can now be found in one place, including health, business, community and travel advice.

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Kiwis told avoid non-essential travel, return home from overseas

New Zealanders are advised to avoid all non-essential travel and return home from overseas. Contact your insurer but be prepared for travel insurance to be affected.

Story from Newshub: 18 March, 2020

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Coronavirus: spike in calls to the IFSO Scheme

People should check with their insurers and airlines before making, changing or cancelling their travel plans, insurance and financial services ombudsman Karen Stevens has warned.

Story from Stuff: 7 March, 2020

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Contact your airline, agent and insurer before changing travel plans

As COVID-19 (coronavirus) causes flight cancellations and travel bans, IFSO Karen Stevens urges Kiwis to consult their airline, travel agent, and insurer before they change their travel plans.

Story from Insurance Business NZ: 10 March, 2020

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Financial Adviser, Relationship Scam

A complaint against a financial adviser who facilitated withdrawals for a client caught by a relationship scammer has not been upheld by the IFSO Scheme.

Story from Good Returns: 9 March, 2020

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