IAG raises premiums on disaster risk as Faafoi seeks insurance law changes

Mon, 29 Apr 2019

By Paul McBeth April 29 (BusinessDesk) - IAG New Zealand announced a hike in home and contents premiums to reflect a higher risk of severe weather and natural disasters just days after the government outlined plans to plug the holes in insurance contract law. From July, Australian-owned IAG will change its home and contents cover, in part to account for increased house cover by the Earthquake Commission but the withdrawal of contents cover by the state agency. IAG said the hike will also be linked more closely to the risk of natural d...

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