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2020: changes to insurance contracts

The Government announced plans reform laws governing insurance contracts. Minister Faafoi has said that consumers will have greater certainty about their insurance cover when they need to make a claim.

Agreed changes include:

  • Placing the responsibility on insurers to ask consumers the right questions when processing new insurance policies
  • Requiring insurance policies to be written and presented clearly
  • Ensuring insurers respond proportionately when consumers don’t disclose something they should have, or misrepresent themselves
  • Strengthening protections for consumers against unfair terms in insurance contracts
  • Allowing the FMA to monitor and enforce compliance with new requirements

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