The country’s largest general insurer IAG New Zealand remains committed to providing insurance in Wellington and confirms it is not withdrawing or retreating from Wellington.
IAG has been providing insurance to New Zealanders for 160 years and continues to provide insurance in Wellington and across the country for new and existing customers.
“We insure around half of Wellington and following the Kaikōura earthquake we undertook a conservative approach to providing insurance in region due to high natural peril risk,” IAG’s Kevin Hughes says.
IAG continues to maintain its prudent approach to insurance in Wellington. However, as part of an ongoing review process, IAG decided to review its position regarding both new and existing customers.
“The feedback from our existing customers is they want us to be there for them,” he says. “As such our focus has been to broaden our support and to protect existing customers. This includes making sure insurance is available as the circumstances of our customers change. For example, when an existing customer buys a new home, we want to ensure we are able to provide insurance coverage for their new property and that we’re there for them if they need to make a claim,” he says.
IAG’s approach to insurance is something we continue to assess. Taking into account feedback we’ve received recently, we are also looking to broaden our approach to new business in Wellington.
“We will work with new customers to understand their insurance needs in line with our normal insurance practice,” Mr Hughes says.
“Specifically, we’re taking steps to work with tenants in relation to contents insurance in Wellington, we are supporting landlords, and ensuring that customers who are first time home buyers or who are moving into the Wellington market are also supported.
“Our approach is about being sustainable and being here for our customers now and in the future,” Mr Hughes says. “This includes Wellington and all parts of the country.”