Insurance Council on premium increases

On Thursday's programme we reported that an Australian insurer has been told to scrap a whopping 60 percent hike of a home insurance premium after a customer raised a complaint. The Australian Financial Complaints Authority deemed the premium increase unjustified and unfair. We spoke to Rebecca Styles from Consumer NZ, who said New Zealand's Insurance and Financial Ombudsman is not able to consider such cases - and that there's limited action policyholders here can take when premiums dramatically increase. We also said the Insurance Council of New Zealand had declined to come on the programme. This was incorrect, and we apologise for the error. Insurance Council of New Zealand chief executive Kris Faafoi spoke to Corin Dann.