Next OCR increased pushed further into the future

With the European debt crisis dragging on, economists expect Reserve Bank governor Alan Bollard will leave interest rates unchanged on Thursday. To read the full story and our survey of economists Click Here.

New online life insurance research

Inform has launched a new site, www.QuoteMonster.co.nz, which provides quotes for life insurance advisers. The site has had nearly 400 advisers sign up to us it in its first week.

"It takes us an average of 1.93 seconds to calculate the premiums for 11 companies" says Conor Sligo, part of the QuoteMonster team "We cater for well over 100 different add-ons and features within the single quoting platform and generate a report which can fit with most existing sales processes."

Tim von Dadelszen, also at QuoteMonster, says the site will have product research reports next year, but they won't be free.

First insurer licensed

Chartis has become the first insurer in the country to be fully licensed by the Reserve Bank and has transferred its ownership locally to Chartis Insurance New Zealand.

The company formerly operated under its global parent, American Home Assurance Company, and has been providing insurance services in New Zealand for 41 years.

"Under our new company we are keen to emphasise that we will not only offer the same products, and operate with the same personnel and underwriting authorities, but we will also bring decision making closer to our customers. This will result in improved service and even better claims servicing capabilities" said Chartis New Zealand chief Cris Knell.