Cigna respond to COVID-19
Message from FSC about COVID-19

FMA confirms list of essential financial services - and helps insurers out with a claims

The FMA has confirmed a list of essential financial services, worked out in conjunction with the council of financial regulators in a recent statement:

The Government has confirmed that financial services are essential services that will continue operating when New Zealand moves to level 4 in its COVID-19 response.

The Council of Financial Regulators (CoFR) has consulted with the Government to provide detail on those financial services that should be considered essential services. This includes all financial institutions and suppliers or providers to those entities that are essential to ensure continued operation of our financial system and access to this system for all New Zealanders.

The detailed list includes specific inclusion for suppliers where they support essential operations, including the importance of those involved in claims: 

Access to medical records through doctors’ surgeries
Psychologists, counsellors etc. (mental health claims)
Access to medical laboratories for medical tests
Private hospitals and associated staff/professionals
Access to external medical specialists.

This will be a great relief to insurers and their clients. While we all expect that health resources will go first to saving lives, while there is capacity to provide help with claims, it is important.  Some clients depend on claims payments these for their livelihood. Even for clients that are not on claim, confidence in insurers is an important component of confidence in the financial system.

 

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)