Author: Press Room
New Zealand’s largest insurer, IAG New Zealand Limited, has been penalised $19.5 million by the High Court for historical failures to correctly apply discounts to some customers and miscalculation of government levies.The Financial Markets Authority (FMA) launched an investigation into IAG’s conduct following self-reports from the company between September 2021 and December 2024. The breaches affected approximately 269,000 customers and led to overcharges totalling around $35 million.IAG NZ — who operate major insurance brands State, AMI, and NZI — admitted to making false and misleading representations about its insurance products, including incorrect premium pricing and the failure to apply key…
By Anneke Smith of RNZ An orchardist says the horticulture industry is not crying out for workers, as the prime minister urges young people to look for work in the sector. From next November, the Government will means-test 18- or 19-year-olds before they can access a jobseeker benefit. Prime Minister Christopher Luxon has encouraged jobseekers to look to horticulture for work, telling Morning Report the sector is “crying out” for young people. “If you go outside of Wellington, to Hawke’s Bay or go to the South Island … The primary industries, for example, in horticulture [and] in our growing industries, they are crying out for young people…
A former financial advisor has been sentenced to nearly four years in prison after misappropriating $1.7 million from two retired couples he had known for over four decades. In June, Murray McClune pleaded guilty to two charges of theft by a person in a special relationship following an investigation by the Financial Markets Authority.Between 2016 and 2018, McClune procured around $1.7 million from two sets of elderly clients who he had known for over 40 years on the basis he would invest the funds on their behalf.Rather than investing the funds he had received, the FMA found that the money…
A three-year-boy died of septic shock in a rural hospital after critical opportunities to save his life were missed by an on-call doctor and a nurse who shouldn’t have been in sole charge of the children’s ward that night.It has prompted the Health and Disability Commissioner (HDC) to write to Health NZ to ensure sole-charge clinical staff are suitable at rural hospitals, where resourcing is a problem.An investigation into Alexzander Sutherland-Hunt’s death by the HDC, released on Monday, found systemic failings in the care provided to the little boy when he was taken to then Grey Base Hospital in Greymouth…
One person has been arrested and a homicide investigation launched following the death of a man in Auckland’s New Lynn this afternoon.Emergency services were called to Kaponga Cres in the suburb of New Lynn just before noon to a report of a person injured.St John responded to the incident with two rapid response units, an ambulance, and an operations manager.Despite efforts of first responders, the man died at the scene.Acting Detective Inspector Simon Harrison said one person was taken into custody.”As such, police are not seeking anyone else in relation to this matter. We would like to reassure the community…
ADVERTISEMENT Ursula von der Leyen hit back against a renewed attempt to topple her presidency by making a pitch for political unity at a time when “our adversaries are not only ready to exploit any divisions” but “they are actively inciting those divisions in the first place”. Von der Leyen faces two simultaneous motions of censure this week, filed by far-right and far-left groups in the European Parliament, just three months after she comfortably survived her first-ever vote of no confidence. Neither of the two motions is expected to succeed. “The point of this unity is not necessarily for us…
Another business linked to Christchurch property developer Andrew Bendemski has folded, leaving a string of connected companies owing at least $35 million to creditors. Among failed projects was a Wanaka development with consent to build about 60 townhouses near the lake waterfront, which went to mortgagee sale last year. This was owned by Stoney Creek GCO Ltd, whose director was Mr Bendemski. After developing Christchurch and Wanaka subdivisions, he now has an Auckland address. The latest of interwoven companies to go under this year is GCO Pharmaceuticals Ltd, which was placed in liquidation on September 26. Mr Bendemski is the…
Former Reserve Bank governor Adrian Orr has been paid nearly half a million dollars, in addition to $760,000 in remuneration, after he abruptly quit his job in March.The “restraint of trade payment” amount was disclosed today in the bank’s annual report, showing Orr was paid nearly $1.2 million total in the period since July 1, 2024.Around $766,180 of the total amount was his overall remuneration – including salary, KiwiSaver employer contributions and other employee benefits – while $416,120 was paid to the former governor this month for restraint of trade.A spokesperson for the Reserve Bank (RBNZ) confirmed to 1News that…
A Christchurch hospitality sector dining on a spending rise suggests pubs, cafes, restaurants and takeaway outlets are no longer still struggling. Hospitality businesses are hoping this is a sign the cost-of-living crunch may be putting less heat on them. Hospitality New Zealand said the Christchurch spend in food services and commercial accommodation was up 7% in August from the same month a year ago. Interim chief executive Nick Keene said hospitality spending in the city had one of the highest rises nationwide. It was especially pleasing to see the spending gain was locally driven, showing households were perhaps more confident…
Former Silver Fern Maia Wilson says she has come under fire from keyboard warriors in the aftermath of Dame Noeline Taurua’s suspension, despite not knowing anything about the saga.The national body confirmed on Saturday that Taurua will be sidelined for the remainder of the 2025 season following failed attempts at mediation last week.Netball NZ said “despite considerable and genuine effort” from the two parties, a resolution regarding the Silver Ferns “high performance programme and environment” had not yet been reached.Taurua was sensationally stood down 11 days out from the Taini Jamison series against South Africa last month.The rift between Dame…