Auckland, 6 May 2010 –  Wayne Besant CEO of AIA New Zealand appeared on  NZI Business  with Corin Dann to discuss the  launch of the new business product. 

The underinsurance gap in New Zealand’s primarily owner-operator business market has prompted insurer AIA New Zealand to develop two new products for business – one of which insures business owners in operation for less than four years, a demographic which traditionally has had trouble securing affordable business insurance.

Launched on 1 April, the New to Business Cover is especially designed for businesses less than four years old, while the Business Continuation Cover is intended for established businesses. To support these products and ensure business clients receive the right level of cover, AIA New Zealand has also developed the Business Lifestyle Check, which helps gather information from clients to develop an appropriate business succession plan.

The Business Lifestyle Check is a comprehensive analysis tool for ensuring accuracy in setting business cover and for business succession planning, giving business owners the reassurance that they have the right protection for their business.

AIA New Zealand CEO Wayne Besant said a significant proportion of business owners did not have a succession plan, which poses a risk for companies in the event that the owner was unexpectedly unable to work.

“With 95% of New Zealand businesses being small to medium sized enterprises, and most of these having the owner as the key person running the day-to-day operations, it was clear to us that there was a need for these products and services. However, this need wasn’t being fully met by what was already available in the market.

“Many businesses wouldn’t survive if a key person was unable to work, so we see getting the right business protection, with succession planning, as essential for owners – and we wanted to make it as simple as possible.

“New Zealand is a nation of small businesses. It is critical to New Zealand’s productivity and enduring entrepreneurial spirits that businesses are able to survive the solvency test under the Companies Act due to a life risk event,” says Mr Besant.

Mr Besant is forthright about his company’s plans for New Zealand businesspeople: “There is a significant underinsurance gap in the New Zealand market, so we are excited to see awareness building around the need for income protection and are looking forward to supporting New Zealand business owners with these new and enhanced products.”

 About AIA New Zealand

AIA New Zealand is the trading name of American International Assurance Company (Bermuda) Limited (AIA) in New Zealand, and a member of the AIA Group.

Since the company arrived in New Zealand in 1981, AIA New Zealand has consistently provided the market with innovative personal and business insurance products that suit the Kiwi way of life. Today we offer a complete range of risk management products that focus on the needs of our customers.

AIA New Zealand is based in Auckland with regional offices in Wellington, Hamilton and Christchurch. However, through our Insurance consultant network, we reach every corner of the country.

AIA New Zealand is a member of the Investment Savings and Insurance Association (ISI), the Insurance and Savings Ombudsman Scheme (ISO) and the Health Funds Association of New Zealand (HFANZ).

About the AIA Group

The AIA Group is a leading life insurance organisation in Asia Pacific that traces its roots in the region back more than 90 years.  It provides individuals and businesses with products and services for life insurance, retirement planning, accident and health insurance as well as wealth management solutions. Through an extensive network of more than 320,000 agents and approximately 23,500 employees across 15 geographical markets, the AIA Group serves the customers of over 23 million in-force policies in the region.

The AIA Group has branch offices, subsidiaries and affiliates located in jurisdictions including Australia, Brunei, China, Hong Kong, India, Indonesia, Macau, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

Challenge Trust Chief Executive Clive Plucknett

Challenge Trust chief executive Clive Plucknett tackles the silent epidemic that is depression head-on today in the National Business Review, 05 March.

In his interview with Niko Kloeten, Plucknett says depression is the next global crisis, it happens to more people than we realise, the problem is, NZ executives are too afraid to open up and confide in one another.

Depression the silent epidemic for executives uncovers another side of the corporate world and identifies several issues;

• Boards are not dealing with the issue effectively;
• Outlines NZ within the global context;
• Depression does not necessarily happen gradually, and it may strike anyone, at any time;
• Challenge Trust offers help at hand with the Wellness & Recovery model based on International Benchmarking, a model that may be applied to a whole organisation or individual;
• Challenge Trust runs sessions on emotional resilience;
• Sufferers should not go-it-alone, support in recovery is key;

Clive also appeared on TVNZ’s NZI Business, 16 March, to discuss the ‘corporate’ attitude of depression among New Zealand offices.  In this segment he reiterated the culture of ‘macho’ bullet proof executives and stressed the importance of support structures for leading business likening the countries’ support of the All Blacks. 

Plucknett understands pressure and hard-work as the head of Challenge Trust, an organisation dedicated to recovery services for people from all walks of life.

Tyndall Investment Management welcomes new Managing Director Peter Lynn to the helm.

With over 17 years’ experience in investment markets, and an interim role as chief for six months in 2007, Lynn has always been capable of doing the job. Three years on, he is better equipped to lead and to build on Tyndall’s excellent track record.

Making headlines already, Lynn appeared on 2 February on TVNZ’s NZI Business to share his thoughts with Corin Dann on the financial year ahead. The self-confessed maths-lover predicts 2010 will be pivotal in determining how investment markets will react over the next five years, and expects central banks to take the middle ground to help ease the pressure.

No rest for Lynn, he recently spoke to Goodreturns’ Jenha White regarding the future of Tyndall Investment for an article distributed on 5 February; Tyndall Looking To Add More Retail.

Peter’s appointment to Managing Director was also mentioned in New Zealand Asset magazine.  Find out more about Peter Lynn and his journey to the hot seat at Tyndall Investment in the business section of the New Zealand Herald , on goodreturns.co.nz and in the March Issue of NZ Management magazine talking to Reg Birchfield about his new job.

About Tyndall New Zealand

Tyndall, part of ASX-listed Suncorp-Metway Ltd, manages over $3.6 billion in investments for a range of clients, covering KiwiSaver schemes, retail investors, corporates, superannuation schemes, charities and group companies Vero, Asteron and Guardian Trust.

Niko Kloeten interviewed Sara Dennis recently on the subject of Asset Management , Infrastructure planning & development. New Zealand is facing a serious skills shortage in this area  which has long-term implications for our economic development.

In an article published to  subscribers of www.nbr.co.nz Sara discusses the plans with Niko around the course and how the partnership with the Chifley Business School is bringing the Vocational Graduate Certificate in Physical Asset Management to New Zealand this year. 

Sara also appeared on TVNZ’s NZI Business with Corin Dann on 16 February to discuss the launch of the new business course aimed at refining the management and vision of infrastructure projects.   Since the success of the course in Australia, GHD has recently launched the course in Canada, and will soon introduce it to New Zealand in September.

Sara also appears in the March issue of NZ Marketing magazine discussing the topic of asset management.  Click here for the NZ Management article or read the NBR article here behind a log on.

About Sara Dennis

Sara Dennis joined GHD as National Infrastructure Strategy Group Manager six years ago, and now heads a team of 16, providing asset management and management consulting services to clients.

This comprises strategic advice, development of ‘best practice’ policies, strategies, procedures, skills transfer/training/mentoring, asset management planning, asset valuations and financial and improvement planning.Sara is one of the few people in New Zealand who can bridge the gap between asset management, financial planning and strategic planning. She developed much of her experience, before joining GHD, at a local government level, including an eight-year role as Group Manager Business Services at the Far North District Council. Her recent projects with GHD have included asset management and programming for the Rodney District Council, a quality management system for the Dunedin City Council, a gap analysis and improvement plan for the Tauranga City Council, and an asset management plan update for the Whakatane District Council.

Sara has a Bachelor of Business Studies, a Certificate in Business Computing, a Certificate IV in Training and Assessment, and is a Water Services Association of Australia (WSAA) Assessor.

About GHD

GHD is one of the world’s leading engineering, architecture and environmental consulting firms. Established in 1928, GHD employs more than 6,000 people across five continents and serves clients in the global markets of water, energy and resources, environment, property and buildings, and transportation.
 
Wholly owned by its people, GHD is focused on client success. Our global network of engineers, architects, planners, scientists, project managers and economists collaborate to deliver sustainable outcomes for our clients and the community. Our core values of Teamwork, Respect and Integrity help create enduring relationships that deliver exceptional results.
 
GHD is recognised for its commitment to innovation, safety and sustainable development. We care for the wellbeing of our people, communities and the environments in which we operate.
 
A member of the World Business Council for Sustainable Development, GHD operates under a Practice Quality Management System, ISO 9001:2008 and an Environmental Management System, ISO 14001:2008 which are certified by Lloyds Register Quality Assurance.