News Category: General Insurance

Storm clouds gathering. ACC levies set to increase.

This Topix looks at the proposed changes to levy rates for the three levied ACC accounts. There are small increases proposed for the Earners’ and Motor accounts and a reduction for the Work account. However, not all is what it seems…

Change to the EQC cap.

Change to the EQC cap. What does it mean for insurance prices?

 

In this article we have a look at the change to the EQC cap and what it might do to insurance prices. We look at differences between regions and by sum insured, to see who are likely to be the winners and losers from this change.

ACC Partnership Programme & WSMP

ACC has / is removing the Workplace Safety Management Practices discount.  What does this mean for the relative merits of joining the Accredited Employer Programme (AEP)?

IFRS17: Key Issues for Health Insurers

IFRS17 (the new accounting standard for insurance contracts) was released in May 2017.   This newsletter looks at three key issues for health insurers, namely:

  • Deferred acquisition costs
  • Onerous contracts
  • Contract boundary

IFRS17 Key Issues for General Insurers

IFRS17 (the new accounting standard for insurance contracts) has been released.

This newsletter looks at three key issues for general insurers. Namely:

  • Multi year policies
  • Onerous contracts
  • Risk margins

IPSA Review – Issues Paper

This newsletter looks at the issues paper recently released by the Reserve Bank in regard to their review of the Insurance (Prudential Supervision) Act 2010. We discuss the key issues for non-life insurers, perhaps the most important of which is maintaining a level playing field between New Zealand and foreign insurers.

Insurance industry financial statements and TOWER analysis

MJW has compiled a library of all the financial statements for every insurer licensed to operate in New Zealand as discussed in the attached newsletter. We’ve also done an analysis of TOWER’s accounts given the recent purchase offer by Fairfax.

Driverless cars and insurance telematics

Disruptive technologies threaten to shake up the insurance industry, and some commentators would have you believe that these are just around the corner. This article looks at some of the factors that need to be present for such technologies to succeed and considers the implications for New Zealand insurers.