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Restrictions on use of the word 'insurance'

There are restrictions on the use of certain words associated with insurance to help the public identify who is a licensed insurer. This page provides information on who is subject to the restrictions and how to seek an exemption if you wish to use any of the restricted words.

What the ‘restricted words’ are

The ‘restricted words’ under section 219 of the Insurance (Prudential Supervision) Act 2010 are ‘insurance’, ‘assurance’, ‘underwriter’, ‘reinsurance’ or any other terms with a similar meaning.

Using restricted words in names or titles

Anyone carrying on insurance business in New Zealand must be licensed by us. It is an offence under section 15 for a person to carry on insurance business in New Zealand without holding a licence. If a person does not carry on insurance business in New Zealand, then the restricted words may not be used in their name or title.

However, this restriction does not apply to:

  • industry associations
  • those who, in connection with any insurance business carried on in New Zealand:
    • help issue or administer contracts of insurance or help collect premiums
    • act as an insurance loss adjustor or assessor, or
    • arrange, negotiate, solicit or promote contracts of insurance or their renewal (for example, a broker or other insurance intermediary).

Businesses with exemptions

We can grant exemptions where a person will not be carrying on insurance business in New Zealand, and has a legitimate reason to use the particular word in the name or title. We have granted exemptions to the following:

A—C

Assess Control Assure NZ Pty Ltd

Assure Admin Services Limited

Assure Build Limited

Assure Legal Limited

Assure Rentals Whangarei Limited

Assured Accounting Services Limited

AssuredCarbon Limited

Assured Construction Limited

Assured Safety Consulting Limited

Assured Treasury Limited

Assurezy Information Security Services Limited

Brosnan Assured Limited

Climate Assured Homes Limited

Commercial Union General Insurance Staff Pension

F—M

Financial & Insurance Management Services Limited

FoodAssured Limited

Global Assurance Limited

Guardian Assurance Superannuation Plan

Insurance Advocates Limited

Insurance Technologies Limited

Insure Minder Limited

Insured Group Limited

Insureitssafe Limited

Maritime Mutual Insurance Association (NZ) Ltd

Medical Assurance Society KiwiSaver Plan

Medical Assurance Society Retirement Savings Plan

MGI Auckland Assurance Limited

N—S

New Zealand Farm Assurance Incorporated

P4Assure Limited

Quality Assurance New Zealand Limited

Rest Assure Respite Trust Limited

Rest Assured Charitable Trust

Rest Assured Respite Trust Limited

Rest Assured Limited

Safety Assured NZ Limited

Sum Insured NZ Limited

How to apply for an exemption

If you are subject to the restriction, but you want to use the restricted words in your name or title, you may seek an exemption from us.

Email [email protected] with the following information, and we will get in touch:

  • the (proposed) name of your business
  • your reasons for using a restricted word
  • the (proposed) activities your business will carry on in New Zealand
  • whether or not your business will carry on insurance business in New Zealand.