News
See articles and updates on topical issues, together with information sheets, brochures, annual reports, reviews and other resources in our document library.
See articles and updates on topical issues, together with information sheets, brochures, annual reports, reviews and other resources in our document library.
A widow contacted the IFSO Scheme for expertise when her insurer stalled on funeral payout.
-Stuff Jane Matthews July 29 2021
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has released a guide to talking about money online following concerns some social media influencers and bloggers may be straying into regulated financial advice.
Insurance and Financial Services Ombudsman, (IFSO), Karen Stevens says the cold weather is a timely reminder for people to check their use of appliances and their insurance policies.
Directors and senior managers of lenders (including some mobile traders) must comply with the Credit Contracts and Consumer Finance Act 2003 (CCCF Act) from 1 October 2021.
Insurance and Financial Services Ombudsman (IFSO), Karen Stevens, has important tips for people facing the task of setting their homes to rights.
-Rob Stock, Stuff, Monday 1 June 2021
Here is a great example of the value of financial mentors - helping people navigate financial hardship. To complain about hardship decisions made by lenders, contact us at info@ifso.nz
After the severe flooding in Canterbury, we urge affected residents to photograph the damage, and contact your insurer before you clean up.
- Story from The Star, 31 May 2021
The CCCFA sets out lender responsibilities for consumer protection. When Charlie, who was terminally ill, couldn't repay a $43,000 loan, his ute was repossessed. The lender made mistakes, which displayed unfortunate conduct, particularly given Charlie’s vulnerabilities.
In most cases, the Business Interruption cover would not respond, because there was no material damage. Standard business interruption exclusions for infectious diseases were triggered when COVID-19 became publicly notifiable.
The idea of purchasing travel coverage for a reasonable price in future may be at risk, given the enormous pressure on the travel insurance industry. Does insurance need a new paradigm for known risk?
Under the Credit Contracts and Consumer Finance Act 2003 a Fit and Proper Person register is being introduced.
On Monday, 17 November, the FMA and Financial Advice NZ will launch a full licensing application guide for Advisers. The guide will cover licensing standards across seven conditions including record keeping and internal complaints processes.
Story from Good Returns: 12 November, 2020