New Zealand's government proposes the Contracts of Insurance Bill to modernize insurance law, shifting disclosure duties to insurers and requiring clear policy language.
New Zealand's government aims to modernize insurance law through the Contracts of Insurance Bill, which simplifies the system, shifts disclosure duties to insurers, and requires clear policy language. The bill aims to balance protecting consumers from opportunistic insurers and safeguarding insurers from fraudulent consumers, and will be open to public feedback during the select committee process.
May 02, 2024
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