FMA Report Finds Insurance Industry Fails Māori Needs

The Financial Markets Authority published research on August 24, 2026, revealing that New Zealand's insurance industry fails to meet the needs of Māori. The study found that 17% of Māori participants experienced insurance problems in the last two years, a rate nearly double that of the general population.

Barriers to coverage include high costs and systemic distrust rooted in colonization, racism, and bias. The report specifically highlights the difficulty of insuring collectively owned land, known as whenua Māori, and notes that Māori communities face disproportionate exposure to climate-related hazards such as coastal erosion and flooding.

To bridge these gaps, the authority recommends increasing the number of Māori financial advisers and providing culturally appropriate information to ensure full participation in financial markets. Hannah Chapman, a strategic adviser for the agency, noted that current insurance settings do not accommodate collective ownership and traditional ways of living.