Scoop has an Ethical Paywall
Licence needed for work use Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

KiwiBank-style insurer for all New Zealanders

David Cunliffe

Labour Leader

2 November 2013                                        

MEDIA STATEMENT

KiwiBank-style insurer for all New Zealanders

A Labour government will set up a KiwiBank-style insurance company to provide a local alternative in an industry dominated by foreign-owned businesses, Labour Leader David Cunliffe says.

“Building on the success of KiwiBank, Labour will create a local insurance company called KiwiAssure which will work for all New Zealanders.

“Kiwis are sick and tired of seeing their hard-fought for assets sold off to foreign interests.

“KiwiBank was a breath of fresh air when launched by Labour and Jim Anderton in 2002. It gave New Zealanders, who were frustrated with big overseas players, a home-grown banking alternative.

“The Christchurch earthquakes have left thousands of Cantabrians struggling to get their claims approved and households throughout New Zealand face more restrictive cover for years to come.

“Christchurch residents know their pay-outs have been slow and the services they’ve received have been patchy.

“Many New Zealanders are concerned the sum insured changes have pushed up their premiums. They want the assurance of a service-focused state-owned company that has their best interests at heart.

“KiwiAssure will offer New Zealand families a responsive and innovative insurance alternative they will share a stake in.

“Subject to a business case, KiwiAssure will be a sister company of KiwiBank and will evolve out of the existing Kiwi Insurance Limited. It will offer home, contents and vehicle insurance, along with cover for small business plant and equipment.

“With 90 per cent of the insurance sector owned by overseas interests, a Labour government will ensure Kiwis can choose to keep profits from this crucial industry in New Zealand,” David Cunliffe says.

ENDS

Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.