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
Asure Accommodation 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.