Rates to change after IAG New Zealand changes pricing model

Posted On: Apr. 29, 2019 6:21 AM CST

IAG New Zealand Ltd. said that its rates could change after the insurer switches its premium pricing model to a risk-based system in July, Radio NZ reported. Kevin Hughes, a spokesman at IAG New Zealand, said that the rates could increase for areas at higher risk of catastrophes and decline for regions at low risk.