Insurance Contract Law Review

The Minister of Commerce and Consumer Affairs has announced a review of New Zealand’s insurance contract law, and has released a terms of reference for the review.

Insurance plays an important social and economic role. It compensates consumers when they experience unexpected harm and enables businesses to manage risk.

Effective regulation of insurance contracts is important so that consumers and businesses have certainty that insurance will respond as expected in the event of loss, and insurers can measure and price the risk being insured with a degree of certainty.

Terms of reference

The terms of reference outline the scope and proposed timeframe for the review.

Terms of Reference for the Insurance Contracts Law Review [PDF 47KB]

The review will examine a range of issues with insurance contract law, including those relating to:

  • Disclosure obligations for policyholders
  • Technical issues that have been identified by the Law Commission and insurance industry
  • Gaps in New Zealand’s regulation of insurers’ conduct
  • The scope of terms defined to be not “unfair contract terms” under the Fair Trading Act 1986
  • Consumers’ ability to find and compare prices and policies.

How you can get involved

The Ministry of Business, Innovation and Employment is preparing an issues paper which is planned for release and public consultation in mid-2018. The issues paper will be an opportunity for interested parties to share their views and insights about the issues that have been identified for the review.

Contact us

You can also contact the MBIE policy team leading the review at or at:

Financial Markets Policy Team
Commerce, Consumers and Communications Branch
Ministry of Business, Innovation and Employment
15 Stout Street
PO Box 1473