New Zealand’s financial ombudsman service says there has been an increase in insurance complaints after severe weather events struck the country this year. 

Financial Services Complaints Limited (FSCL) says it has seen more weather-related complaints against financial service providers following record floods in Auckland and the North Island devastation of Cyclone Gabrielle.  

Delays in assessing claims, as well as allegations brokers didn’t arrange appropriate insurance cover for homes and businesses, are among the complaints, ombudsman Susan Taylor says. 

FSCL has also received several complaints relating to sum insured values on home insurance policies. 

“As extreme weather events become increasingly common in Aotearoa, more consumers will find themselves unable to rebuild their homes as a result of their sum insured value being set too low,” Ms Taylor said, adding consumers should regularly review this. 

“Insurers and brokers could also remind consumers to review their sum insured more often and send out standalone reminders rather than including them at policy renewal,” she said. 

New Zealand consumers can also access the Insurance and Financial Services Ombudsman (IFSO), the Banking Ombudsman Scheme (BOS) and the Financial Dispute Resolution Service (FDRS).