New Zealand’s insurance industry is failing to consistently meet the needs of Māori, with affordability barriers and difficulties insuring collectively owned land leaving them less likely to have cover, according to a study by the market watchdog. The Financial Markets Authority research published Tuesday in Wellington found that 17% of the more than 950 Māori who participated in the study experienced problems with insurance in the last two years, which is almost twice the rate found in a similar survey of the general population. The study highlights systemic gaps in access and cultural appropriateness of insurance products for Māori communities.

Addressing these disparities requires targeted reforms to improve affordability and recognition of collective land ownership in underwriting practices.