Report that gives an overview of the New Zealand insurance market published
Duncan Cotterill’s ‘Covering the New Zealand Insurance market 2023’ report has been published, giving an overview of the current market and covering key issues facing insurers. Some key items of interest in the report include:
An article on ESG trends and mandatory climate reporting – who it applies to, what do CRE’s have to do, what reporting is required, phased implementation and penalties. They also discuss greenwashing and the recent amendment to The Companies Act 1993 that clarifies that directors can consider matters other than the maximisation of profit when considering the best interests of a company.
A discussion on the types of costs or losses usually covered by cyber insurance.
A discussion on the approach the Supreme Court has confirmed when interpreting exclusion clauses in insurance policies.
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