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We appreciate the support of our broking partners in delivering the initial phase of our New Zealand regulatory reform project.

As part of implementing this project, we have now updated the disclosures in our policy wordings and associated documents. 

This will impact the products we underwrite for you. In particular, we wish to ensure that clients are informed at the appropriate time, including of:

  • Chubb’s financial strength rating before they enter into or renew their insurance contracts, as required by the Insurance (Prudential Supervision) Act 2010;
  • Chubb’s privacy policy when information is collected from them, as required by the Privacy Act 2020; and
  • Various matters in accordance with the Fair Insurance Code.

From 1 December 2020 the relevant information has been included in Chubb’s proposal forms, quote documents and policy wordings.  For ease of reference, you will also receive a standalone document containing important information for clients.  This information should form part of submissions to clients/prospective clients when Chubb terms are being offered.

The updated policy wording(s) will be included in the information you receive when the policy is bound.  Please ensure that the updated version of the policy wording is used and please let us know if you require a copy of the relevant policy wording.

Where you are producing policy schedules in relation to Chubb policies, we request that Chubb’s financial strength rating be noted on the schedule if it is not already. 

We look forward to your continuing support in ensuring that your clients are receiving this important information at the appropriate time.

Please contact your Chubb underwriter if you have any queries.

Have a question or need more information?

Contact us to find out how we can help you get covered against potential risks