2023 was certainly a year full of challenges, not least when it started with the cyclone and floods impacting many across the North Island. The premium changes we’ve seen as a consequence of those events was, and continues to be, difficult. We continue to communicate strongly with the insurers on all matters impacting our clients.
We’ve also seen the ongoing inflationary pressures flow through the insurance system (especially with increasing claim costs) and a tight reinsurance market when it comes to natural disaster capacity pushing price. In amongst all this we’ve also had a change in government who face reduced budgets, higher interest rates and an ongoing cost of living challenge.
AIB remains here for our valued clients, to support and work alongside you. We are committed to our role in advising on insurance requirements, protection assessments, claims management and placement into a challenging market. Please keep talking to us about your insurance cover so that we can continue to provide you the best possible service.
Our offices will remain open during the break with selective staff here to help, with most of our staff returning from the 8th of January 2024.
From everyone at AIB, thank you for your support and partnership throughout 2023, and we wish you all a very Merry Christmas and a prosperous New Year. Looking forward to seeing you all again in 2024.
Take Care
AIB Group Insurance Team
