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Risk Financing and Insurance update

7 July 2016

New Zealand Government Procurement has been developing collaborative risk financing and insurance solutions for government agencies.

We have just finalised the first cluster of 11 agencies (Cluster1). The new approach seeks to bring significant benefits to the agencies including:

  • Notable cost savings (estimated in excess of 30% and greater than 50% for some participants);
  • Improved intermediary (broker) service models;
  • Matured risk management practices; and
  • Broader insurance coverage.

We are now exploring development of a second cluster and more information will be available in the coming weeks. Contact us at risk.coe@mbie.govt.nz if you want to be kept informed of this opportunity.

 

Last updated 8 July 2016