BNZ Supports Canterbury Customers

Media Release
For immediate release
21 September 2012

BNZ Supports Canterbury Customers

BNZ has announced insurance support is now available to a much broader group of existing and some new customers in Canterbury, effective from 15th of October 2012. For the first time since the 2010 earthquake BNZ customers can now be offered:

0 Cover for those wanting to build or purchase a residential property

0 Contents cover for those wanting to rent a home

0 Cover for property investors and small business owners

All applications will be assessed on a case by case basis and subject to IAG NZ underwriting criteria.

“The easing of conditions will be particularly well received by small businesses and commercial investors who have struggled to receive support from insurers. We’re hoping the new measures will mean Cantabrians can finally get on with their lives and begin focussing on the future, says Chris Gourley, BNZ’s Head of Retail, Southern Region.

“The breadth ofthe changes also means customers will no longer have to wait for their existing houses to be demolished before they can get the right insurance for a new home", he says For customers and potential customers looking to buy, build, rent or who are looking to invest in property in Canterbury, with the help of IAG, BNZ can now support them with appropriate insurance and banking solutions."

The damage from the Canterbury earthquakes has been devastating and times have been challenging for all. The move will now allow BNZ to focus on housing and property development along with the business sector, areas that will help inject growth into the regional economy.

Throughout, BNZ has continued to invest in its staff, its customers through a range of financial packages and has invested over $10 million in stores and Partner Centres including $1.5m on the Russley Partners Centre, the banks biggest in the region so far.

BNZ understands the anxiousness and frustration that’s been felt by customers around the market for new insurance and the new offer marks another step in the banks ongoing commitment to the rebuild effort.

ENDS

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