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Member, Beacon International Group, Ltd.
New Zealand's Insurance Council has said Labor leader David Cunliffe's plan to establish KiwiAssure, a state-owned insurer, could affect offshore capital investment into the domestic insurance market, Stuff.co.nz reported.
Tim Grafton, chief executive of the council, said setting up such a company would cost "tens of millions of taxpayers' dollars."
Michael Naylor, a senior lecturer at a university, said he does not think KiwiAssure will have a big influence on the market.