Growing Mistrust in New Zealand Insurers Amid Rising Costs

1

Consumer NZ has issued a warning that the situation could deteriorate further unless the insurance sector demonstrates greater value, transparency, and fairness. Insurance, traditionally seen as a safety net, is becoming increasingly inaccessible for many, according to Rebecca Styles, the investigations team leader at Consumer NZ. She indicates that the rising costs and complex policies contribute to this growing mistrust.

A notable 65% of New Zealanders have identified the cost of living as their primary concern, further illustrating the economic challenges faced by consumers. Meanwhile, environmental issues appear to have shifted down the priority list, with only 12% of those surveyed citing climate concerns as one of their top three issues.

Consumer NZ plans to address these concerns further in an upcoming report on the affordability of home and contents insurance, aiming to shed more light on the barriers facing New Zealanders today.

Published:Tuesday, 17th Jun 2025
Source: Paige Estritori

Share this news item:

Insurance News

Clear

AFCA Sides with Policyholder in Storm Damage Dispute 18 Jul 2025: Paige Estritori A recent ruling by the Australian Financial Complaints Authority (AFCA) has favoured a policyholder in a dispute with insurer Auto & General over storm damage. The case involved a collapsed ceiling, initially attributed to a storm by the insurer before an about-face led them to deny the claim. The AFCA decision marks a significant instance where consumer protection mechanisms have countered an insurer's attempt to deny coverage. - read more

Transforming Home Insurance: The Rise of the Home Energy Revolution 17 Jul 2025: Paige Estritori The landscape of home insurance policies in Australia stands on the brink of transformation as an increasing number of homes, apartment complexes, and small businesses are projected to integrate solar panels and battery systems by 2050. According to a report from the actuarial consultancy Finity, these homes will evolve into independent power stations, generating and storing their own electricity, marking a pivotal shift in home energy management. - read more

Life Insurers Reevaluate Amid Rising Mental Health Claims 16 Jul 2025: Paige Estritori In a growing industry concern, the Council of Australian Life Insurers has highlighted an alarming increase in mental health-related claims, which are now the leading cause of total and permanent disability (TPD) claims. The rise has driven insurers to reconsider their current practices and strategies to address this trend. - read more

QBE Highlights the Importance of Adequate Landlord Insurance 15 Jul 2025: Paige Estritori Landlords in Australia have been advised by QBE Insurance Group to reassess their insurance coverage, following survey findings that indicate many could encounter financial hardships if their rental operations are interrupted. According to QBE's data, 38% of landlords might face financial challenges should their properties become uninhabitable or rental payments cease for a duration of two to six weeks. - read more

Court Denies E-Scooter Negligence Allegation Against City Council 14 Jul 2025: Paige Estritori An Australian court recently ruled in favour of the City of Joondalup, rejecting a negligence claim lodged by an injured e-scooter rider. The Western Australia District Court found the city not liable for an accident involving insurance broker Kirstin Leibbrandt, who collided with a fence post while riding an e-scooter in the Perth suburb of Hillarys. - read more