Financial Services Council welcomes progress on insurance contract law reform
The Financial Services Council has welcomed the proposed changes to insurance contract law announced by the Government
“The scope of the measures released is comprehensive and has a clear focus on improving outcomes for consumers”, said
Richard Klipin, CEO of the Financial Services Council.
“They represent a modernisation of this technically complex area and will provide greater certainty, clarity and
transparency for consumers.
“Managing risk through insurance is key for Kiwis and this package of changes will help make it easier, simpler and more
accessible for all of us to ensure that we have the insurance cover we need.
“The FSC has already begun this journey with the industry-led FSC Code of Conduct that came into force at the start of
this year and today’s announcement is another important step.
“We now look forward to working through the proposed changes in detail and engaging constructively with the Government
in the consultation process ”, concluded Klipin.