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Insurance brokers are concerned a proposed change to the way the FENZ levy is calculated on commercial property insurance premiums is unaffordable and will lead some commercial property owners to take the risk of leaving buildings uninsured.
Insurance brokers are predicting levies could increase by as much as 400 percent, IBANZ says.
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The Insurance Brokers Association of New Zealand (IBANZ) is urging home buyers to think with their heads rather than their hearts when committing to a real estate purchase.
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