New Zealand market News

New Zealand Raises Fines for People and Companies that Break COVID-19 Rules

WELLINGTON – New Zealand on Friday [Sept. 17] announced higher fines of up to NZ$12,000 ($8,400) for individuals breaching coronavirus restrictions amid concerns that the current outbreak may spread beyond Auckland to other regions due to people breaking rules. “Our …

Heavy Rain Causes Floods in New Zealand’s Canterbury Region, Forcing Evacuations

WELLINGTON, New Zealand (AP) – Several hundred people in New Zealand were evacuated from their homes Monday with some recounting dramatic helicopter rescues as heavy rain caused widespread flooding in the Canterbury region. Authorities declared a state of emergency after …

New Zealand Becomes 1st Country to Introduce Climate Change Law for Insurers, Banks

New Zealand has become the first country to introduce a law that will require banks, insurers and investment managers to report the impacts of climate change on their business, minister for climate change James Shaw said on Tuesday. All banks …

BHSI Launches Management Liability & Association Liability Cover in New Zealand

Berkshire Hathaway Specialty Insurance Co. (BHSI) has expanded its executive & professional lines offerings in New Zealand with the introduction of Management Liability and Association Liability Insurance policies. BHSI’s Management Liability policy is designed to address the wide range of …

BHSI Launches Professional Technology Liability Cover in Australia, New Zealand

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has launched Professional First Technology Liability Insurance policies in Australia and New Zealand. Both policies offer broad, customizable professional liability protection for the full scope of services provided by technology and tech-related …

Catastrophe Insurance Data Firm PERILS Expands Coverage to New Zealand

PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced it has extended its market coverage to include New Zealand. PERILS is now making available market-wide property sums insured exposed to the perils of earthquake, flood and extratropical …

Massive Fire Breaks Out at N. Zealand Convention Center Building Site

New Zealand’s flagship international convention center project faces further significant delays as a fire at the central Auckland construction site continues to burn more than 22 hours after breaking out. The fire, which began on Tuesday afternoon, had engulfed the …

Insurtech-Driven MGA, Agile, Appointed as StarStone Partner in Australasia

Agile Underwriting Services Pty Ltd., the insurtech-driven managing general agency (MGA) and Lloyd’s coverholder, announced it has been appointed as a representative agent for global specialty insurer, StarStone, in Australia and New Zealand. Agile has been a strategic partner since …

StarStone Launches Casualty Consortium for Australia, New Zealand Markets

StarStone, the global specialty insurer, has launched a casualty consortium targeted at the Australian and New Zealand markets. The consortium is led by StarStone’s Mark Hunt and has begun underwriting business. StarStone’s Lloyd’s coverholder in Australia – StarStone Underwriting Australia …

RMS Opens Office in Sydney to Support Client Growth in Australia, New Zealand

RMS, the Newark, Calif.-based global risk modeling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets. The focus will be to help …