Government criticised for allocating funds to ACC to work on NZIIS before MBIE’s analysis of consultation on scheme released, and other news

Jenée Tibshraeny writes in NZ Herald of how the government has been critiqued for pushing through legislation to allow ACC to work towards operationalising the NZISS ahead of the Ministry of Business Innovation and Employment’s (MBIE) analysis of submissions made via the consultation process. MBIE has said a formal decision on whether the government will proceed with the scheme will be made in June or July.

MBIE's acting manager of income insurance policy, Francis van der Krogt, told NZ Herald around 2000 people or organisations either made full submissions or answered a shorter-form survey.

He said officials are analysing the feedback and preparing a summary for Ministers, which will be released "in due course".

Asked why the submissions weren't published before the legislation was passed and funding allocated via the Budget, van der Krogt noted the legislation is a "small and relatively technical piece of legislation" that enables ACC to do work it wouldn't otherwise be able to do under existing legislation.

"The work will help inform final decisions. Any substantive legislation to create a New Zealand Income Insurance scheme would go through a full Parliamentary process," van der Krogt said.

More daily news:
FSC debunks health insurance myths
Good Returns: Leanne Lazarus (former Westpac Life CEO) appointed CEO Heartland Bank
Government commits to providing ACC funding for preliminary work on systems and operational processes for NZIIS
WTW introduces new version of Radar pricing software

Women in Insurance Summit recap, and more daily news

The Women in Insurance Summit 2021 was chaired by Lee-Ann du Toit, Deloitte Actuarial and Insurance Services Partner. The summit opened with Partners Life Managing Director Naomi Ballantyne discussing her career in the industry as well as the values and lessons that she uses as part of her leadership approach. du Toit commented that there was a lot of focus on being genuine and brave and discussions focused on leadership, diversity and inclusion. Suzanne Wolton, Medical Assurance Society New Zealand Independent Director, discussed concepts around networks while Amanda Halfacree, Crombie & Lockwood Deputy Head of Financial and Professional Risks, explored gender stereotypes and personal biases. Agnes Naera, Global Women CEO, discussed resilience and learning from failures.

Other speakers included:

  • Rob Hennin, nib NZ CEO
  • Thérèse Singleton, Resolution Life NZ CEO
  • Brynlea Hunter-Morpeth, AIA NZ Chief People & Culture Officer
  • Toni Ferrier, AIG CEO
  • Tracey Barron, Southern Cross Healthcare Chief of Strategy
  • Michelle McBride, Insurance Chief People Officer, Tower
  • Alpha Woolrich, Veterinary Professional Insurance Society CEO
  • Claire Sutton, Asteron Life Executive Manager Life Portfolio and New Business
  • Amy Cavanaugh, Pinnacle Life General Manager Operations
  • Kato’one Kaho, AA Insurance Digital Delivery Manager
  • Melanie Harding, Willis Towers Watson Head of Operations
  • Justin Lim, Quashed Co-founder & CEO

“The Women in Insurance Summit 2021 wrapped up yesterday after a day full of inspiring keynotes and discussions across a variety of topics, ranging from effective leadership to good networking, mental health strategies, and the role of digital innovation in business.

The Summit was chaired by Deloitte actuarial and insurance services partner Lee-Ann du Toit and was opened by Partners Life managing director Naomi Ballantyne, who discussed her extensive career in New Zealand’s life insurance sector, and the values and lessons that she has incorporated into her leadership approach.

Commenting on the end of the Summit, du Toit said the speakers had provided some “fantastic discussions,” and thanked them for speaking openly and honestly about their career paths, and some of the challenges they have faced.

“I would like to thank all of our tremendous speakers for keeping the energy going and keeping us engaged with some fantastic discussions,” du Toit said. “There was a lot of focus on being genuine and being brave, and we had lots of leadership and diversity and inclusion discussions.”

“Naomi’s opening session was really, really valuable, and she was very honest with us about asking questions and understanding your business, and about surrounding yourself with smart people who challenge you to live up to your values,” she continued.

“We had a great discussion about networking with Suzanne Wolton, who got us thinking about whether we are getting the most out of our network, and also challenged us to share with others who we are and what we’re passionate about, rather than what we do.”

“Our panel discussion focusing on diversity, inclusion and equity strategies also focused on empathy, and on doing the right thing in the right way, mentorship, and paying that forward,” du Toit added.

“Amanda Halfacree spoke to us about gender stereotypes, and reminded us to examine our own biases. We also thought about defining our own career path, and seeking opportunities that light us up.

“Agnes talked about   and also learning from failures, and having that be part of your success. And, of course, our last session focused on digital innovation, and discussed all the different facets around staff, customers, systems and collaboration, and making the most of opportunities.” Click here to read more

In other news

FSC: FSC Research Launch: 'Generation Rent'

Financial Advice: KiwiSaver – Are contributions are just as important as fees?

Financial Advice: The how and why of Cryptocurrency

Strategi: FAP compliance officer course to be held in August

Strategi: Core strand: Classroom learning enrolments for August

Women in insurance event coming up in Wellington

 A group of Wellington-based insurance professionals looking to network with and support women in the industry have set up a Women in insurance event.  The event is being held on Tuesday 27th July starting at This is a free event sponsored by Cigna Life Insurance NZ.

The focus of the event will be to:

-          meet other women in the industry

-          gain skills such as networking and speaking

 All are welcome, we think those who would benefit most from attending are:

-          Those new to the industry

-          Anyone feeling like they might be out of touch with who is still involved in Wellington

-          Those looking to meet new people, learn a few things and have fun

-          Those who have networking on their development plan

It is a relatively informal event so please do encourage those you work with to come along.

Please can you circulate to anyone within your organisation you feel may wish to attend. They will need to RSVP (Sarah Martin to secure their spot so we can monitor numbers for catering purposes and contact tracing. More details in the flyer below: 

Download Women in insurance invite 30June (002)

Should there be a change to the alert levels before this event we will look to make alternative arrangements which may include the ability to join online, restricting numbers or in the event of a move to level 3 or above rescheduling the date.