The High Court of New Zealand has imposed penalties totalling NZ$7.88m (US$3.63m), on CBL Corporation and four former directors for breaches of continuous disclosure obligations.
The ICA has classified ex-tropical Cyclone Jasper as an Insurance Catastrophe to fast-track support for thousands in Far North Queensland, with assessors and claims specialists already deployed.
Zurich cleared of any wrongdoing after OnePath Life, which Zurich's acquired in 2022, denied a claim due to non-disclosure of the claimant's past mental health hospitalisations.
Insurance Authority data shows a 10% decrease in overall complaints for the first nine months of 2023, though there was a slight increase in conduct-related cases.
