Fraud vs non-disclosure

The Insurance & Financial Services Ombudsman Scheme (IFSO) isn’t in the business of detecting, reporting and reducing insurance fraud; that is the job of the Insurance Fraud Bureau New Zealand (IFB) and insurers. However, IFSO does encounter insurance complaints where fraud and the separate issue of non-disclosure are factors. Read on to find out the difference between them.

New Insurance Contracts Bill "can't come soon enough."

The new Insurance Contracts Bill intends to update and consolidate the country’s existing insurance laws. Of the reforms, “the big one” for the IFSO Scheme relates to the issue of non-disclosure.

Travel and travel insurance soaring as Kiwis take to the skies again.

With travel tickets and policies surging, here's a closer look at travel insurance - and the new Covid-19-related cover, with Insurance and Financial Services Ombudsman, Karen Stevens.

Man complains 'Asia' is part of 'Australasia'

A man complained to the IFSO Scheme when his claim for medical expenses in India were declined. He said he was covered because his policy covered 'Australasia', which has the word 'Asia' in it.

The Insurance & Financial Services Ombudsman, Karen Stevens, warns travellers to check their travel insurance

The IFSO Karen Stevens talks to Stuff's Rob Stock about travel insurance, and what you are - and what you're not - insured for.

The IFSO Scheme's Karen Stevens delivers flooding advice

With torrential rain across Auckland and Northland causing flooding, Insurance and Financial Services Ombudsman (IFSO Scheme), Karen Stevens, discusses what to do to avoid more heartache.

New lending rules to be eased

The government has moved to change new lending rules blamed for causing creditworthy borrowers being refused loans and causing a credit crunch.

"Unfair" insurance laws set to change

Insurance and Financial Services Ombudsman, Karen Stevens, said the move comes nearly 25 years after reform of punitive non-disclosure laws was first recommended by the Law Commission to protect consumers.

Hit to pocket when pre-holiday illness strikes

The list of most expensive domestic claims from New Zealand’s leading travel insurer is a reminder to purchase travel insurance as soon as a trip is booked - the highest claims came from customers who hadn’t yet packed their bags.

West Auckland flooding victims disappointed by insurance company dealings

TVNZ Fair Go reporter Alistar Kata on recent West Auckland flood victims' experience with their insurance claim. Karen Stevens Insurance and Financial Services Ombudsman says any evidence for damage and loss is going to help your claim.

Published 27 September 2021

Consumers lack rights awareness

One-third of people are unaware of crucial legislation affecting lenders and borrowers, the Ministry of Business, Innovation and Employment (MBIE) reveals:

Many kiwis don't understand - or have no interest in reading, their insurance.

Research commissioned by ICNZ of 1000 Kiwis shows just over half (54%) know what their insurance covers them for.

- Newshub, photos provided by AA Insurance