IAG raises premiums on disaster risk as Faafoi seeks insurance law changes
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, Au...
Tobacco tax hike drives up cost of living for beneficiaries, Maori
By Paul McBeth April 29 (BusinessDesk) - The government's annual 10 percent hike on cigarettes and tobacco was most keenly felt among the country's poorest, resulting in a higher cost of living for beneficiaries and Maori. Stats NZ figures show the cost of living for benef...
Skellerup buys Auckland foam firm for $6.5 million
By Paul McBeth April 29 (BusinessDesk) - Skellerup Holdings has bought Auckland-based Nexus Foams for about $6.5 million, which it says will immediately boost the group's earnings. The deal is expected to close tomorrow, with Skellerup acquiring the Nexus business and asse...
Councils paid out $1 billion for faulty buildings in past decade
By Paul McBeth April 29 (BusinessDesk) - Building consent authorities are estimated to have stumped up about $1 billion during the past decade in compensation for defective buildings, including leaky homes. Of that, about a third of the bill was to cover the tab of failed b...
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