Like all countries New Zealand also an insurance industry which is vital for for any economy. Though fires and accidents, cars and thefts of property etc. are the main reasons insurance , but New Zealand is prone to natural disasters more often than not such as cyclones, volcanoes, floods, tsunami etc. where in a large number of lives and destruction of property are involved.
The New Zealand insurance system in looks into the following aspects
- Reduces the risks for the citizens.
- It helps develop innovative solutions.
- Make a difference in the business development.
- There is an immense contribution to the sustainability of the environment, social and economic stability.
Both the private and public sector endeavour to make lives of people better and there is a healthy competition in the insurance industry so that insurer gets the benefit. It has been worked out that the insurance and financial sector will work in tandem to work toward reduce the carbon foot print. In the same manner initiatives are taken to reduce risks of people and their assets too.
The insurance has also stepped forward to help protect the online safety of the denizens by the way of cyber protection initiatives which are undertaken to protect the interests of the citizens when they have
- Liability
- Intellectual property infringement
- Malware and virus put in
- Interrupting business
- Unauthorised access
- Cyber extortion
- Theft
- Website defacement
To prevent all of the above insurance industry is trying to help protect the citizens virtual interests too. As it is know most of the transactions take place online and the industry has grown and woken up to the new threats which aren’t natural but manmade and are more malicious and difficult to over ride. Grab all the info before you get started.
