Source: New Zealand Parliament
It aims to simplify the implementation of the insurance-based levy framework for Fire and Emergency New Zealand. The levy is insurance based, which means that insurance policyholders are charged a levy based on the type and amount of insurance they have.
The bill would make the following changes to the levy regime:
- The Fire and Emergency levy would be charged on contracts of insurance for fire damage rather than contracts of insurance for material damage.
- The bill would change the basis for calculating the levy from the amount insured to the sum insured in contracts for fire damage.
- The bill would clarify how the levy applies to motor vehicle insurance.
- The commencement date of the regime would change from 1 July 2024 to 1 July 2026 or by an earlier date set by Order in Council.
Tell the Governance and Administration Committee what you think
Make a submission on the bill by 11.59pm on Tuesday, 25 October 2022.
For more details about the bill:
ENDS
For media enquiries contact:
Governance and Administration Committee
ga@parliament.govt.nz
04 817 9520
