Insurance Council of New Zealand
1. Business / Trading Name: Insurance Council of New Zealand Incorporated (ICNZ) – Te Kāhui Inihua o Aotearoa.
2. Company number: 218390 (Incorporation number as listed on the Incorporated Societies Register)
3. NZBN: 9429042876557 (as listed on the Incorporated Societies Register).
4. Entity type: Incorporated Society (non-profit industry association).
5. Business classification: Industry association for general insurance (advocacy and member services).
6. Industry Category: Insurance (fire and general insurance sector).
7. Year founded: 1895 (over a century of continuous operation).
8. Addresses:
• Physical: Level 2, Asteron House, 139 The Terrace, Wellington 6011, New Zealand.
• Postal: PO Box 474, Wellington 6140, New Zealand.
9. Website URL:
https://www.icnz.org.nz/
.
10. LinkedIn URL: https://www.linkedin.com/company/icnz.
11. Company Hub NZ URL: Data Not Found (no profile on public company directories).
12. NZ Companies Office URL: https://app.businessregisters.govt.nz/sber-businesses/viewInstance/view.html?id=229a78e05307b6d8bf1b29667f00cb1700fd6cf776dbf801&_timestamp=1357515242296218 (Incorporated Societies Register)
13. Social Media URLs:
• Twitter (X): https://twitter.com/_ICNZ.
• LinkedIn: (see item 10 above).
14. Ultimate Holding Company: None (ICNZ is an independent non-profit owned by its member companies).
15. Key Shareholders: Not applicable (ICNZ has members, not shareholders – it is funded by member insurance companies).
16. Leadership:
• President (Board Chair): Amanda Whiting – CEO of IAG New Zealand; appointed ICNZ President (Board Chair).
• Vice-President: Adam Heath – CEO of FMG (Farmers’ Mutual Group); ICNZ Vice-President.
• Chief Executive Officer: Hon. Kris Faafoi – former Cabinet Minister, appointed ICNZ CEO from April 2024.
• Immediate Past Chief Executive: Tim Grafton – led ICNZ from 2012 to 2024, credited with modernising the Council’s strategy.
• Board Members: Senior executives from member insurers (e.g. Dave Morrow – Chubb NZ; Michelle James – AA Insurance; Jimmy Higgins – Suncorp NZ; Blair Turnbull – Tower; John Lyon – Ando/Hollard; Simone Labady – Aioi Nissay Dowa).
17. Staff: Approximately 8–10 core staff (Head office team in Wellington). Key positions include: Regulatory Affairs Manager, Consumer Affairs Manager, Resilience & Recovery Manager, Insurance Manager, Communications Manager, etc..
18. Staff that have held previous government roles:
• Hon. Kris Faafoi (CEO): Former Member of Parliament and Cabinet Minister (Justice, Commerce, Broadcasting, etc.). Brings extensive “machinery of government” experience to ICNZ.
• Patrick O’Meara (Communications Manager): Former senior communications advisor in Government and Reserve Bank, and ex-journalist.
• (Other ICNZ staff largely come from industry or regulatory backgrounds; no additional direct ex-MPs or Ministers identified.)
19. Past Employees:
• Tim Grafton (Chief Executive 2012–2024): A long-time industry advocate, stepped down in 2024. Praised for significant contributions to government policy development.
• John Lucas (Insurance Manager, joined 1996): Long-serving staff member who has represented ICNZ internationally (e.g. at marine insurance forums).
• Jane Brown (Legal Counsel/Policy Adviser): Former Regulatory Affairs manager (contact for ICNZ submissions) – background in insurance law (frequently liaised with Parliament on bills).
• (No publicly documented cases of ICNZ staff moving directly into government roles, but several have been influential in policy circles.)
20. Clients: Not applicable. (ICNZ does not serve external clients; its “clients” are its member companies. ICNZ’s 28+ member insurers collectively write ~95% of NZ’s general insurance premiums.)
21. Industries/Sectors represented: The general insurance industry in New Zealand, including domestic and commercial property insurance, motor vehicle insurance, liability insurance, travel insurance, marine and reinsurance. (ICNZ explicitly excludes life and health insurance, which are covered by separate associations.)
22. Publicly Disclosed Engagements:
• Regular submissions to government and Parliament on insurance-related legislation and regulations (e.g. submissions on the Incorporated Societies Bill 2021, insurance contract law reform, disaster recovery policies).
• Appearances before Select Committees on laws such as the Financial Markets (Conduct) Act, Natural Hazards Insurance Bill, etc.
• Participation in government working groups and inquiries (e.g. engagement with the COVID-19 Wage Subsidy Scheme review panel, contributions to the National Disaster Resilience Strategy ).
• Formal consultations with regulators (Reserve Bank insurance regime consultations, Commerce Commission authorisations in the past ).
23. Affiliations:
• Member of BusinessNZ Affiliated Industries Group – part of the main umbrella lobbying body for NZ businesses.
• Member of the Global Federation of Insurance Associations (GFIA), representing NZ in the international insurance lobby.
• Participant in the International Union of Marine Insurance (IUMI) – ICNZ’s Insurance Manager is the NZ contact for marine insurance matters.
• Works closely with the Insurance Council of Australia and other overseas counterparts on trans-Tasman issues (informal affiliation via GFIA and regional forums).
• Collaborates with NZ regulators and agencies (e.g. MBIE, RBNZ, Treasury) on industry data and policy (ICNZ market statistics are used by regulators ).
24. Sponsorships / Collaborations:
• Insurance Fraud Bureau (IFB): ICNZ launched and sponsors the IFB (est. 2019) as a collective initiative against insurance fraud – all ICNZ members fund and participate in it.
• Insurance Claims Register (ICR): ICNZ established and manages the ICR, a shared industry database of all general insurance claims used to detect fraud and assess risk.
• Young Enterprise Scheme – Schools Insurance Module: ICNZ partners with the Young Enterprise Trust and Banqer to promote insurance education in high schools (including an “Insurance Day” program).
• Massey University Journalism Prize: ICNZ sponsors an annual prize for the top student in Massey’s post-grad journalism programme to improve media understanding of insurance.
• Cyber Security Awareness: Collaboration with Government on Cyber Smart Week – ICNZ co-organises events and provided input into establishing CERT NZ (Cyber Emergency Response Team).
• University of Canterbury Chair in Disaster Risk: ICNZ (through staff like Sean Fullan) sits on advisory boards for academic research on disaster economics and resilience.
25. Events (held or organised by this organisation):
• ICNZ Annual Conference: Flagship event gathering industry leaders, government, and international experts. E.g. the 2024 conference in Auckland opened by the Minister of Commerce, and previous conferences featuring global speakers (like Lloyd’s CEO Inga Beale in 2016).
• Annual Industry Awards (ANZIIF): ICNZ co-sponsors the New Zealand Insurance Industry Awards in partnership with ANZIIF, including awarding the ICNZ Scholarship to young industry professionals.
• Workshops & Seminars: ICNZ organises member workshops on specialist topics (e.g. cyber insurance, maritime law, climate risk), and public seminars (presentations to community groups like Citizens Advice Bureaux and Rotary on insurance literacy).
• Press Conferences & Media Briefings: ICNZ frequently hosts media roundtables/releases for major reports (e.g. annual Natural Disaster Insurance Summit, release of insurance claims data after catastrophes).
26. Political Donations: Data Not Found. (ICNZ itself does not publicly disclose any political donations. As a non-profit lobby, it generally engages via advocacy rather than direct party financing. Note: Some member insurers have made donations individually, but no record of donations in ICNZ’s name.)
27. Controversies:
• Christchurch Earthquake Response: ICNZ and its members faced public criticism for slow insurance claim settlements after the 2010–11 Canterbury quakes. ICNZ’s then-CEO Tim Grafton defended insurers’ efforts as “enormous” and said lessons had been learned, but many claimants remained frustrated, leading to accusations of industry foot-dragging and underscoring potential regulatory gaps.
• Kaikōura & Wellington Claims Delays: Following the 2016 Kaikōura earthquake, some businesses complained of lengthy claim processes. ICNZ again rejected these complaints as “unfair”, insisting insurers were working as fast as possible. Critics like lawyer (now MP) Duncan Webb argued insurers were still not adequately equipped to respond swiftly.
• Consumer Fairness and Code Efficacy: Consumer NZ surveys have found many customers struggle to trust or understand insurance policies. ICNZ has pushed back at negative survey findings, arguing most consumers are treated fairly and highlighting that only a tiny fraction of claims (<0.005%) result in upheld disputes. ICNZ’s voluntary Fair Insurance Code – while improving standards – has been viewed by some consumer advocates as less potent than enforceable regulation.
• “Revolving Door” Appointment: The hiring of former minister Kris Faafoi as ICNZ CEO in 2024 drew scrutiny over potential conflicts of interest. Faafoi had, as Commerce Minister, overseen insurance law reforms; his move into the industry lobby raised questions about New Zealand’s lack of cooling-off periods for ex-ministers. (Media commentary noted it exemplified how corporate lobbies can benefit from insider knowledge, though ICNZ welcomed his government experience as an asset.)
• Fire Levy Disputes: ICNZ has long criticised the Fire and Emergency NZ levy on insurance as an unfair “tax on policyholders” and lobbied for its removal. In 2023, when a levy hike was proposed, ICNZ publicly challenged it, and later hailed the Government’s decision to scale back the increase. The Council’s outspoken stance (calling the levy “the worst possible option” for funding fire services ) occasionally put it at odds with Fire and Emergency NZ leadership.
• Insurance Retreat & Climate Risk: ICNZ has warned that insuring property in high-risk areas is becoming untenable, which has political implications. In 2022–2023, as premiums spiked for flood and coastal zones, some local leaders accused insurers of red-lining communities. ICNZ, in turn, pressed government for stronger climate adaptation action, risking public alarm. This tension – between maintaining commercial viability and ensuring societal fairness – has sometimes made ICNZ a lightning rod in climate adaptation debates.
28. Other information of note:
• Membership Composition: ICNZ’s ~28 members encompass all major general insurers in NZ, including subsidiaries of Australian insurance giants (IAG’s NZ brands like State, NZI; Suncorp’s Vero and Asteron; Tower Insurance; FMG; MAS; smaller specialists and reinsurers). These companies collectively insure over $1 trillion in assets and pay out ~$1.5 billion in claims annually (figures ICNZ publicized). The breadth of membership makes ICNZ the dominant voice of the sector, but also means it represents sometimes competing interests under a unified front.
• Self-Regulation Initiatives: ICNZ administers the Fair Insurance Code, a code of conduct first adopted in 1994 and periodically revised (latest 2020). While not law, the Code sets service standards (e.g. claims handling timeframes) and ICNZ can censure or expel non-compliant members. It publishes annual compliance reports (in 2023, members reported zero “significant breaches” of the Code). This self-regulation is often cited by ICNZ to stave off harsher regulation, though the effectiveness of industry policing itself is debated.
• Data & Research Role: Beyond advocacy, ICNZ functions as a statistical hub – it collects industry data (premiums, claims, losses) and publishes market statistics. It also partners in research (e.g. commissioning surveys on public perceptions of insurance, funding engineering research on seismic building restraint compliance ). This information role can enhance transparency, but also means policymakers rely on industry-supplied data.
• Integrity and Transparency: ICNZ does not appear on New Zealand’s Lobbyist Register (as none exists nationally), and it is not required to disclose lobbying meetings. Its influence is largely behind closed doors through consultations and industry-government forums. In the wake of criticism of lobbying transparency in NZ, ICNZ has maintained that its contributions are made in good faith to inform better policy (often via formal submissions). Watchdog groups, however, note that ICNZ’s close relationships with officials and the revolving door of personnel warrant continued scrutiny in the public interest.
29. Recipient of Wage Subsidy Scheme: Data Not Found. (There is no public record of ICNZ itself claiming COVID-19 wage subsidies. The Insurance Council’s revenues come from member dues, which likely remained stable. Note: During the pandemic, some member insurance companies did receive wage subsidies for their own staff, but ICNZ as an entity was not reported among subsidy recipients.)
Sources:
1. Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) – LinkedIn “About us”, LinkedIn, https://nz.linkedin.com/company/icnz
2. Microsoft Word – Association List (List of Domestic & International Insurance Associations) – IDMA, via s3.amazonaws.com, Background: ICNZ established in 1895; address and contact, https://s3.amazonaws.com/amo_hub_content/Association352/files/List%20of%20Domestic%20&%20International%20Insurance%20Associations.pdf
3. Our People – ICNZ (staff bios for Kris Faafoi, John Lucas, etc.), ICNZ website, https://www.icnz.org.nz/about/our-people/
4. Commerce Commission case register entry: “The Insurance Council of New Zealand (Incorporated)” (1987–89 info exchange authorisation case), Commerce Commission NZ, https://comcom.govt.nz/case-register/case-register-entries/the-insurance-council-of-new-zealand-incorporated
5. ICNZ Submission on the Incorporated Societies Bill (2021) – ICNZ (PDF), ICNZ describes itself and its members’ coverage (~95% of market, $1 trillion assets), https://www.icnz.org.nz/wp-content/uploads/2023/01/ICNZ_submission_on_the_Incorporated_Societies_Bill_280521.pdf
6. ICNZ Media Release: “ICNZ incoming Chief Executive Kris Faafoi” (Jan 2024) – ICNZ website, Board announcement of Faafoi replacing Tim Grafton on 7 April 2024, with quotes, https://www.icnz.org.nz/industry/media-releases/icnz-incoming-chief-executive-kris-faafoi/
7. Insurance Business NZ – “Insurance council responds to critical survey” (Mar 2019) – by Insurance Business, ICNZ (Tim Grafton) rebuttal to Consumer NZ survey, citing MBIE survey and Code compliance stats, https://www.insurancebusinessmag.com/nz/news/breaking-news/insurance-council-responds-to-critical-survey-170924.aspx
8. RNZ News – “Insurance Council rejects criticism over quake claims” (Feb 2017) – Radio New Zealand, Kaikōura quake: ICNZ CEO Tim Grafton says criticism unfair, lessons learned from Canterbury, insurers/EQC working hard, https://www.rnz.co.nz/news/national/322970/insurance-council-rejects-criticism-over-quake-claims
9. ICNZ “Work With Government” page – ICNZ website, ICNZ policy priorities, especially Fire & Emergency levy stance (“worst possible option”, list of reasons public funding is better), https://www.icnz.org.nz/industry/work-with-government/
10. Insurance Business NZ – “ICNZ backs lower FENZ levies” (Sep 2024) – by Roxanne Libatique, ICNZ (Kris Faafoi) supports Government scaling back Fire levy hike, reiterates concern about levy reliance, https://www.insurancebusinessmag.com/nz/news/catastrophe/icnz-backs-lower-fenz-levies-506795.aspx
11. NZ Herald – “Insurers want RMA replacement to prevent people building in ‘dumb places’” (Thomas Coughlan, Sep 30, 2024) – NZ Herald Premium, ICNZ CEO Kris Faafoi warns allowing development in high-risk locations under new planning laws would put people in harm’s way, calls for national direction to decline risky consents, https://www.nzherald.co.nz/nz/politics/insurers-want-rma-replacement-to-prevent-people-building-in-dumb-places/HBO2KF7R4JEOFE5PHE53YBEDQE/
12. Beehive (NZ Government) – Speech: “Insurance Council of NZ Speech” by Hon. Andrew Bayly (Minister of Commerce) at ICNZ Conference, 7 Mar 2024 – Beehive.govt.nz, Minister thanks Tim Grafton for 12 years and “significant contributions to development of government policy”, https://www.beehive.govt.nz/speech/insurance-council-nz-speech
13. ICNZ Media Release: “ICNZ welcomes updated NZ insurance laws” (2023) – ICNZ website, ICNZ (Kris Faafoi) welcomes passing of Insurance Contracts Bill, notes it tidies up law, credits Minister for balancing consumer protection with certainty for industry, https://www.icnz.org.nz/industry/media-releases/icnz-welcomes-updated-nz-insurance-laws/
14. ICNZ Annual Review 2016 (PDF) – ICNZ, ICNZ partnering with Govt on cyber security week/CERT, calling for enforcement of building seismic restraint rules, contributing to local council resilience strategies and DPMC lessons learned, school education initiatives, journalism prize sponsorship, conference highlights, https://www.icnz.org.nz/wp-content/uploads/2023/01/ICNZ_Annual_Report_V3.pdf
15. Democracy Project (Bryce Edwards) – “NZ Politics Daily – 12 January 2024” – Substack, Brief commentary referencing Stuff article “Former cabinet minister Kris Faafoi to head Insurance Council” and broader issues of lobbying integrity, https://democracyproject.substack.com/p/nz-politics-daily-12-january-2024 (via Democracy Project Substack)
16. Wikipedia – “Kris Faafoi” – Wikipedia.org, After politics: notes Faafoi started a lobbying/PR firm (Dialogue22) and in Jan 2024 it was announced he’d be ICNZ chief executive, https://en.wikipedia.org/wiki/Kris_Faafoi
17. NZ Treasury – “Directions in fiscal policy” (Treasury Working Paper, discussing COVID support) – mentions insurance council quoted on wage subsidy etc., Treasury.govt.nz, https://www.treasury.govt.nz/publications/wp/wp-2020-01 (see context of insurance industry in COVID)
18. interest.co.nz – “Travel agents and insurance industry ready for NZ to reopen” (Nov 2021) – by Jenée Tibshraeny, interest.co.nz, Insurance industry appreciative of wage subsidy, etc., https://www.interest.co.nz/business/113525/travel-agents-and-insurance-industry-ready-new-zealand-reopen
19. OECD Report via Democracy Project – “OECD urges NZ to tame its corporate lobbyists” (Bryce Edwards summary, July 2024) – DemocracyProject.substack.com, NZ Politics Daily 12 July 2024 highlights OECD recommendation for lobbying regulation in NZ, https://democracyproject.substack.com/p/nz-politics-daily-12-july-2024
20. Insurance Business NZ – “Insurance Council of NZ appoints Amanda Whiting as president” (Dec 2022) – InsuranceBusinessMag.com, ICNZ announces new President (IAG’s Whiting) replacing outgoing President, notes role of SME etc. (for context on leadership changes), https://www.insurancebusinessmag.com/nz/news/breaking-news/insurance-council-of-new-zealand-appoints-amanda-whiting-as-president-432439.aspx
Spot anything in this entry that is wrong? Please either leave a comment at the end or email, in confidence: bryce@democracyproject.nz