We are starting to see significant increases in building costs that are leaving 85 per cent of New Zealand homeowners underinsured, an industry expert says.
Jo Mason, chief executive of insurance firm NZbrokers, says rising costs and changes to policy wording mean homeowners are uninsured by an average of 28 per cent. Click Here
The Fire and Emergency New Zealand (FENZ) levy helps fund essential fire and emergency services that protect all of us, our homes, vehicles, personal contents, businesses, and communities. It is a contribution we all make through insurance policies.
While insurers and insurance advisers collect the levy through insurance policies, it is important to know that the amount itself is set by legislation and sits separately from insurers own premium pricing.
From Wednesday, 1 July 2026, changes to the Fire and Emergency New Zealand (FENZ) levy will come into effect across many insurance policies throughout New Zealand.
These changes form part of the new FENZ levy regime and will impact residential, motor, commercial, marine, and specialist insurance programmes.
To ensure we continue to act in the best interests of our clients, we are observing the developments in the Middle East and assessing how the ongoing conflict may progress.
Initially it was felt the conflict might be over within a matter of a few weeks but that may not be the case as it now appears the disruptions may continue for longer than expected.
Communities across New Zealand have recently faced significant challenges following the severe weather events.
At aibGROUP, we know how stressful times like these can be — impacting homes, businesses, and the things that matter most.
