Insurance Business: Aviation industry slams new FENZ levy proposal

(Originally published by Insurance Business Magazine on May 22, 2024.)

The Aviation Industry Association has voiced strong opposition to Fire and Emergency New Zealand’s (FENZ) plan to extend its fire insurance levy to include domestic aircraft.

Currently, FENZ’s fire insurance levy applies to homes, vehicles, and other properties. The proposal aims to extend this to domestic planes and helicopters beginning in July 2026, with a proposed rate of 11.51 cents per $100 of insurance.

Simon Wallace, chief executive of the Aviation Industry Association, said these levies would result in substantial costs for the aviation sector.

Read the full article by Roxanne Libatique here.

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