New Zealand: Insurers slam Labor Party policy to appoint insurance commissionerReprints
New Zealand's insurance industry has criticized a Labor Party policy to appoint an independent insurance commissioner to oversee the sector, Stuff.co.nz reported.
The proposed Earthquake Commission policy would raise the $100,000 New Zealand ($87,880) payout cap. The Insurance Council of New Zealand has called the policy "a mixed bag." While it welcomed an independent review of insurers handling quake-affected policyholders, it does not consider an independent commissioner necessary.