A closer look at insurance contract law review

A closer look at insurance contract law review

The Ministry of Business, Innovation and Employment (‘MBIE’) has recently proposed a review of the law around insurance contracts. The law governing insurance is fragmented, spread across six different acts, some of which are over 100 years old.

MBIE sets two objectives for the issues paper regarding the whole lifecycle of an insurance policy. One, to ensure insurers and insureds can transact with confidence, and two, to make sure all interactions between insurers and insureds are fair, efficient and transparent.

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