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Welcome to this week’s Cover Notes newsletter which has two themes; one is health insurance and the other is even more about how the politicians want to regulate advisers. Also we have an update on what is happening (or not happening) at Newpark.


Remember if you have any news tips please email them to editor@goodreturns.co.nz.

Insurance news

ING Life pays first Herceptin claim
ING Life says its has paid out its first insurance claim for breast cancer drug Herceptin. More

Growth in health insurance predicted to be flat
A slowing economy has reduced the take-up of health insurance policies according to the latest statistics. The Health Funds Association says a net 12,900 more people took out health insurance policies in the 12 months to the end of June compared to last year. This is a growth rate of 0.9%. More

Newpark not selling: Gannon
Newpark owner Darren Gannon has scotched rumours that Professional Investment Services (PIS) is buying the group. More

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Regulation news

Last week the Minister of Commerce, Lianne Dalziel, and the opposition’s commerce spokesman Simon Power talked to advisers about regulation. The following are two reports on what they said.

Dalziel explains why APB model canned
Public confidence in the financial services industry has been "shaken to the core" by recent events in financial markets, Commerce Minister Lianne Dalziel admitted. More

Do not over-regulate advisers: Power
Laws to regulate financial advisers cannot protect investors against all forms of loss, Simon Power, National Party spokesman for commerce has warned. More