Insurance Australia Group not withdrawing from Wellington market

Insurance Australia Group not withdrawing from Wellington market
Photo credit: File

Insurance company IAG has announced it will not be withdrawing from the Wellington market.

On Wednesday morning, IAG announced it would not be accepting new customers for contents insurance, and was declining property insurance applications, reported RNZ.

The insurance company released a statement on Wednesday afternoon saying the will "remain committed" to the Wellington market, despite earlier announcements.

"Following the Kaikoura earthquake, we undertook a conservative approach to providing insurance in the region due to high natural peril risk," said IAG's executive general manager Kevin Hughes.

"The feedback from our existing customers is they want us to be there for them." 

"Our approach is about being sustainable and being here for our customers now, and in future,"

"This includes Wellington and all parts of the country."

IAG insists it will take Wellington customers on "under the right circumstances" - however, there was no explanation as to what those circumstances were.



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