Progressing changes to improve insurance contract law

Published: 24 February 2022

The Ministry of Business, Innovation and Employment (MBIE) is asking for feedback on a draft Bill that will make changes to improve insurance contract law.

MBIE has been reviewing New Zealand's insurance contract law to ensure it is facilitating well-functioning insurance markets.

These changes, which aim to make insurance contracts easier to understand and fairer to consumers, were agreed by the Government in 2019.

MBIE is seeking feedback on this draft Bill from both the industry and those who purchase insurance cover, to ensure the detailed drafting of the Bill achieves the policy that the Government has agreed.

Consultation is open for 2 months, closing on 4 May 2022. The draft Bill, alongside a consumer summary document and information on how to have your say, is available on our website.

Consultation on exposure draft Insurance Contracts Bill

Following this consultation, MBIE will analyse the feedback and consider any changes that may be required to the Bill. Once any changes have been made, the Bill will be introduced to Parliament and go through the normal Parliamentary process, which will include a further opportunity for the public to make submissions to a select committee.

More information on the review of insurance contract law is available on our website.

Insurance contract law review

MBIE media contact