Government introduces Bill to modernise insurance law

Published: 06 May 2024

On 2 May 2024, the Government announced that it would modernise and improve insurance law so that consumers and businesses can effectively protect themselves against risk.

It sets clearer rules on what to disclose for consumers, ensures proportionate remedies for when disclosure rules are breached, and requires insurance policies to be written and presented clearly, as well as other improvements.

The Government intends to pass this Bill by the end of the year. Read the Government's announcement:

Modern insurance law will protect Kiwi households(external link)

Further information on the insurance contract law review

MBIE media contact