NZ Dental Health Warranties Notice

Date
29 March 2019
Type
Notice

This company is not licensed or prudentially supervised by the Reserve Bank of New Zealand or any other New Zealand authority.

The Reserve Bank has sent a warning to NZ Dental Health Warranties (NZDHW) in response to NZDHW’s conduct in issuing what the Reserve Bank considers to be insurance contracts through a GrabOne promotion. Section 15(2) of the Insurance (Prudential Supervision) Act 2010 (Act) makes it an offence for a person without an insurance licence to carry on insurance business in New Zealand. NZDHW disputes the Reserve Bank’s conclusion, and states that it promotes and administers dental health warranty programmes for its dental partners who themselves issue legitimate warranties. NZDHW has agreed to amend its website and marketing materials to make it clear that it does not offer dental health warranties directly to consumers.

A full list of licensed insurers can be found on the Register of licensed insurers in New Zealand page.