15 Mar 2019

Insurance woes: what impact of IAG pull-back in Wellington?

From Nine To Noon, 9:08 am on 15 March 2019
The suburb of Hataitai in Wellington.

The suburb of Hataitai in Wellington. Photo: RNZ / Alexander Robertson

The Commerce Minister, Kris Faafoi, has ruled out the idea of a state-owned insurance company becoming a reality any time soon, and is urging people to `shop around' for their insurance.

This follows the decision of IAG to stop issuing policies in the Wellington region. What will the effect of this be on the capital's housing market and the wider sector?

David Middleton is former Chief Executive of the Earthquake Commission, with 40 years experience working in the insurance industry. 

Also Jonathan Eriksen, an actuary specialising in general insurance, and managing director of Eriksens Global.