Labour pledges KiwiBank style local insurer to combat foreign dominance

Sat, 02 Nov 2013

By Pattrick Smellie Nov. 2 (BusinessDesk) – A Labour-led government will instruct New Zealand Post to expand its fledgling insurance business to offer general insurance to compete with an industry currently dominated by foreign ownership. Labour leader David Cunliffe unveiled the policy at the party’s annual conference in Christchurch, where he said the experience with insurance companies following Canterbury’s earthquakes had revealed slow payouts and “patchy” service. He linked the policy to the decision to meet in Christchurch in the yea...

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