{
  "schema_version": "1.0",
  "profile_url": "https://bodycorpinsurance.co.nz/insurers/nzi-body-corporate/",
  "markdown_url": "https://bodycorpinsurance.co.nz/insurers/nzi-body-corporate/markdown.md",
  "last_reviewed": "2026-06-03",
  "insurer": {
    "brand": "NZI",
    "slug": "nzi-body-corporate",
    "legal_entity": "NZI Insurance — a business division of IAG New Zealand Limited",
    "parent_group": "IAG (Insurance Australia Group)",
    "established_nz": 1859,
    "website": "https://www.nzi.co.nz",
    "logo_domain": "nzi.co.nz"
  },
  "regulator": {
    "authority": "Reserve Bank of New Zealand",
    "legislation": "Insurance (Prudential Supervision) Act 2010",
    "industry_body": "Insurance Council of New Zealand (ICNZ)"
  },
  "fcib_panel": {
    "site_operator": "First Commercial Insurance Brokers Ltd",
    "fsp_number": "FSP748591",
    "status": "active",
    "statement": "FCIB holds an active NZI agency for body corporate risks. NZI is quoted on every FCIB body-corp submission where the risk fits within NZI's publicly-stated appetite."
  },
  "positioning": {
    "one_liner": "NZ's longest-established general insurer; IAG-owned commercial property writer with a substantial NZ body-corporate book.",
    "narrative": "NZI is a business division of **IAG New Zealand Limited**, which is licensed by the Reserve Bank of New Zealand as a non-life insurer under the Insurance (Prudential Supervision) Act 2010 and is a member of the **Insurance Council of New Zealand (ICNZ)**. NZI traces its origins back to 1859 and is one of New Zealand's longest-established general insurers; today the brand sits inside the IAG group alongside State, AMI and Lumley.\n\nFor body corporate risks, NZI is one of the panel insurers FCIB regularly approaches because the carrier writes commercial multi-unit residential property across the full range of NZ unit-titled buildings — small townhouse complexes through to mid-rise apartment buildings. NZI is publicly known for accepting the broad spectrum of standard-construction NZ body-corp risks; complex risks (leaky-building era, earthquake-prone buildings, very-high-rise) are assessed case-by-case.\n\nNZI policies are sold exclusively through brokers — there is no direct-to-public body-corp channel. To get a NZI body-corporate quote you need a broker who holds an active NZI agency. First Commercial Insurance Brokers Ltd (FSP748591) holds that agency and quotes NZI on every body-corp submission where the risk fits within publicly-known appetite."
  },
  "appetite": [
    "Standard-construction multi-unit residential buildings across NZ",
    "Townhouse complexes and small-to-mid-rise apartments",
    "Commercial-mix unit-titled developments (residential + ground-floor retail)",
    "Risks with current insurance-replacement valuations and a funded long-term maintenance plan"
  ],
  "credentials": [
    "IAG New Zealand Limited is licensed by the Reserve Bank of New Zealand under the Insurance (Prudential Supervision) Act 2010",
    "Member of the Insurance Council of New Zealand (ICNZ)",
    "NZI brand established in NZ in 1859; longest-running NZ general insurer"
  ],
  "wording": {
    "status": "pending",
    "note": "NZI Body Corporate wording PDF not yet ingested — extraction blocked on operator obtaining current PDS from NZI broker portal."
  },
  "references": [
    {
      "label": "NZI commercial insurance",
      "url": "https://www.nzi.co.nz/business"
    },
    {
      "label": "IAG New Zealand Limited — RBNZ licensed insurers register",
      "url": "https://www.rbnz.govt.nz/regulation-and-supervision/licensing-and-supervision"
    },
    {
      "label": "ICNZ members",
      "url": "https://www.icnz.org.nz/about/our-members/"
    }
  ],
  "citation": {
    "licence": "CC BY 4.0",
    "attribute_to": "bodycorpinsurance.co.nz"
  }
}