New Zealand's Insurance Council backs new laws modernizing insurance standards, protecting consumers.

The Insurance Council of New Zealand (ICNZ) has endorsed the passage of the Contracts of Insurance Bill, which modernizes outdated insurance laws. The legislation, praised by ICNZ chief Kris Faafoi, aligns New Zealand with international standards, protects consumers, and provides clarity for insurers. Minister Andrew Bayly is credited for updating these laws. Insurers have three years to adapt their systems, and ICNZ will collaborate with the government to ensure smooth implementation.

November 14, 2024
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