What the official record says
This Act is the Insurance Contracts Act . This Act comes into force on the day that is 6 months after the date of Royal assent. The purpose of this Act is to reform and modernise the law relating to contracts of insurance to— promote the confident and informed participation of insurers, policyholders, and other participants in the New Zealand insurance market; and ensure that the provisions included in contracts of insurance, and the practices of insurers in relation to those contracts, operate fairly; and protect the interests of consumers under insurance contacts when they are entered into, throughout their duration, and in the claims management and settlement process. In this Act,— this Part deals with preliminary matters, including interpretation and the application of this Act to the