About us
Global scale, local care
Zurich New Zealand combines global strength with expert local knowledge to help customers understand and protect themselves against risk.
Headquartered in the ‘Commercial Bay’ precinct in Auckland, the Zurich New Zealand General Insurance team specialise in Underwriting, Risk Management, Servicing, Technical Support and Claims. We are able to draw on the world’s best insurance minds across our Global Zurich network, where we apply our local knowledge and experience to find the very best insurance solutions for brokers and customers. When you do business with Zurich New Zealand, you are guaranteed to receive direct access to local decision-makers.
There are many reasons why brokers and customers do business with us, but importantly it’s because we are there for you when it matters most, at the time of claim. We are proud of receiving an Excellence award for ‘Claims Team of the Year – Insurer’ for our Motor Claims Team at the 2021 Insurance Business Awards.
Zurich New Zealand’s strong culture has also been recognised by a number of accolades and awards received recently, including:
- 2022 & 2021 – Human Resource Director (HRD) Magazine 5-star ‘Employer of Choice Award’
- 2021, 2020 & 2019 – Insurance Business ‘Top Insurance Workplaces’ Award
- 2019 – Winner of ‘Employer of the Year’ at Insurance Business ‘Women in Insurance Awards'
Zurich’s range of commercial General Insurance products in New Zealand are underwritten by Zurich Australian Insurance Limited ABN 13 000 296 640, a company incorporated in Australia, trading as Zurich New Zealand.
The Fair Insurance Code
Zurich New Zealand is a signatory to the Fair Insurance Code. The Fair Insurance Code is a code of practice that:
- Sets minimum service standards for insurance companies
- Describes the responsibilities that you and your insurance company have to each other, and
- Encourages professionalism in the insurance industry.
The Code covers all insurance products except health insurance and life insurance.
The Code only applies to individuals and entities with 19 or fewer employees.
Further information about the Code can be obtained from icnz.org.nz.
Zurich is a member of the Insurance & Financial Services Ombudsman dispute resolution scheme. In the event of a dispute, you may be able to refer your complaint to the scheme at:
PO Box 10-845
Wellington 6143
New Zealand.
Freephone: 0800 888 202
Further information about the Scheme can be obtained from www.ifso.nz
Financial strength
In New Zealand, Zurich’s general insurance products are underwritten by Zurich Australian Insurance Limited (ZAIL), trading as Zurich New Zealand.
ZAIL’s solvency margin at 31 December 2024 was $254m in excess of the prescribed capital requirement required by the Australian Prudential Regulation Authority (APRA), with a capital ratio of 1.53. This is based on the adjusted net assets of $739m compared to a prescribed capital requirement of $484m. ZAIL is regulated by both the APRA and the Reserve Bank of New Zealand.
ZAIL has an insurer financial strength rating of AA- from S&P Global Ratings. This rating shows that the company has very strong financial security characteristics.
Standard & Poor’s rating scale for an insurer’s financial strength, together with a summary of Standard & Poor’s description is: AAA (Extremely Strong), AA (Very Strong), A (Strong), BBB (Good), BB (Marginal), B (Weak), CCC (Very Weak), CC (Extremely Weak), SD (Selective Default), D (Default), NR (Not Rated). Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. Further information on these ratings is available from www.standardandpoors.com.
An overseas policyholder preference applies. Under Australian law, if ZAIL is wound up, its assets in Australia must be applied to its Australian liabilities before they can be applied to overseas liabilities. To this extent, New Zealand policyholders may not be able to rely on ZAIL’s Australian assets to satisfy New Zealand liabilities.
Board of Directors – Zurich Australian Insurance Limited (ZAIL)
Geoff Summerhayes, BBA, GMQ, GAICD
Independent Non-Executive Director, Chair of the Board and Member of the Risk, Compliance and Audit Committee
- More than 30 years’ experience in financial services.
- Former Executive Board Member APRA. Prior to this held senior positions including CEO Suncorp Life, Regional General Manager NAB and CEO MLC Super and Investments.
Mary Waldron, B.E.S.S (Hons), FCA, FAICD
Independent Non-Executive Director, Chair of the Risk, Compliance and Audit Committee
- More than 35 years’ Professional Services and Significant Global operational leadership experience.
- Former PwC Global Chief Risk Officer and Global Executive Leadership team member, Senior Australian Audit Partner and Australia and Asia Pacific Managing Partner roles at PwC and Ernst & Young.
Noel Condon, MAICD
Independent Non-Executive Director, Member of the Risk, Compliance and Audit Committee
- More than 45 years’ experience in the insurance industry.
- Extensive global experience including six Country Manager roles in ten cities in Europe/Asia Pacific.
- Former Governor of the American Chamber of Commerce and CEO AIG, Australia.
John Mulcahy, B.Eng (Hons), PhD. Eng. FAICD
Independent Non-Executive Director, Member of the Risk, Compliance and Audit Committee
- More than 30 years’ experience in financial services.
- Former CEO and Group Executive of major ASX listed Australian companies including Suncorp Metway, Commonwealth Bank and Lend Lease.
Nicolette Rubinsztein AM, B.BusSc (Hons), FIAA, MBA, FAICD
Independent Non-Executive Director, Member of the Risk, Compliance and Audit Committee
- Career spanning over 30 years in financial services including extensive wealth management experience across the retail, institutional, funds management, advice and insurance markets.
- Former senior executive at Colonial First State/CBA and prior to this at BT Funds Management and Towers Perrin.
- President of Actuaries Institute for 2019, previously on the board of ASFA for 8 years and previously chair of numerous industry committees.
- UNSW Alumni Leader and member of Macquarie University’s Faculty of Business and Economics Industry Advisory Board.
Matthew Reilly, BSc (Hons) Ec & Acc, FCCA
Non-Executive Director
- Chief Operating Officer, APAC.
- More than 25 years’ of experience in the financial services industry, spanning Europe and Asia Pacific.
Justin Delaney, B.A., GradDipFinPlan, GradDipMgt
Executive Director
- CEO, Zurich Australia and New Zealand.
- More than 25 years’ experience in financial services.
- Former Chief Operating Officer, TAL Life. Prior to this held various senior management roles at Macquarie Group.
About Zurich New Zealand and Fair Conduct
Zurich New Zealand (Zurich) is trading name of Zurich Australian Insurance Limited, which is a licensed general insurer and a registered financial services provider in New Zealand. Zurich promotes, issues and administers general insurance policies. Zurich is licensed as a Class 1 Financial Advice Provider (FSP 26184) to provide general advice on its own products, which may occur through this website and publicly available marketing material.
Zurich is required to comply with the Fair Conduct Principle under the Financial Markets Conduct Act 2013 (NZ).
The fair conduct principle is that
a financial institution must treat consumers fairly.
Zurich issues a number of consumer insurance contracts, which are policies entered into by a policyholder wholly or predominantly for personal, domestic, or household purposes. These contracts include Motor vehicle insurance, Marine Pleasurecraft insurance (such as boat insurance) and Accident and Health Insurance (such as travel insurance products). These products are subject to additional processes relating to product design and distribution oversight. Zurich also issues other commercial and wholesale insurance contracts.
Zurich distributes its products:
- directly to customers serviced by registered brokers; and
- through a small number of selected distribution partners operating under arrangements that may include the partner acting for ZAIL in binding insurance policies and managing claims.
Consumer insurance contracts are subject to additional processes relating to product design and distribution oversight.
About our Conduct Risk Programme
Zurich has a Conduct Risk Programme (Programme) that sets out a fair conduct programme for its activities in New Zealand. It reflects a Fair Conduct Framework that applies more broadly across Australia and New Zealand in our group of companies and covers both retail and wholesale products. The Programme describes the policies, processes, systems and controls which Zurich adopts to comply with the Fair Conduct Principle. Our board of directors have approved the Programme.
Our Fair Conduct Framework is not limited to the identification, management and monitoring of conduct risk but has a broader scope that includes reporting and testing. It is built on a number of pillars that include product design, servicing customers and governance that reflect a focus on our customers.
The Programme sets out the roles of the Board, Committees, working groups and staff across functions in managing conduct risk. All Directors, management and staff of Zurich have responsibility for managing conduct risk.
The Programme sets out how ZAIL manages and monitors conduct risk.
At Zurich, a core element of our strategy is to focus on customers by improving service quality and customer experience. We deliver on our promises and stand up for what is right. This is reflected in Zurich’s Purpose and Values.
We aim to design products that are appropriate for our customers and in line with our regulatory obligations, and to have the supporting processes in place so that our customers understand the products we sell.
Zurich staff who manage the intermediary relationships are expected to conduct themselves in a manner consistent with the Zurich values, and we monitor our relationship with these intermediaries and the interaction of intermediaries with Zurich end-customers. Our oversight of distribution arrangements takes into account the different ways in which products are distributed.
Zurich aims to produce customer communications before a product is issued that are clear and concise, and that will support the customer in making well-informed decisions. Likewise, in servicing, renewals, claims, complaints, and providing advice, Zurich is committed to the fair conduct of business and respect for our customers and aims to produce customer communications that are clear and concise, and that will support the customer in making well-informed decisions.
Governance structures have been put in place to manage conduct risk and leaders are expected to demonstrate compliance with the governance framework. A number of arrangements are in place to comply with the Fair Conduct requirements and monitor our activity.
Complaints about fair conduct
Zurich is committed to providing a high level of service, and we have arrangements in place for resolving any complaints our customers have.
If you wish to make a complaint about any Zurich service, product or claim in relation to fair treatment, simply contact your Broker or contact us using the following details:
Phone: 09 928 8000
Email: nz.claims@zurich.co.nz
Calling from overseas? + 64 9 928 8000
Further information on complaints is available at https://www.zurich.co.nz/contact
