446POther definitions used in subpart

1. In this subpart and section 546,—

   arrange, in relation to a contract for a service or for the acquisition of a product, includes to negotiate, solicit, or procure the contract

   associated product has the meaning set out in section 446F(2)

   consumer, in relation to—

   1. the relevant service of acting as an insurer or an associated product, means any of the following:
      1. a policyholder under a consumer insurance contract or a contract of insurance that provides for life insurance or health insurance (or both):
      2. any other person who is specified or referred to in a contract of a kind referred to in subparagraph (i), whether by name or otherwise, as a person to whom the benefit of the insurance cover provided by the contract extends:
      3. a person who is offered insurance under a contract of a kind referred to in subparagraph (i):
   2. the relevant service of acting as a creditor under a consumer credit contract or an associated product, means either of the following:
      1. a debtor under a consumer credit contract:
      2. a person who is offered credit under a consumer credit contract:
   3. a relevant service referred to in section 446F(1)(a)(iii) or an associated product, means either of the following:
      1. a person who receives the service as a retail client:
      2. a person who is offered the service and who would be a retail client if they received the service:
   4. a relevant service of acting as an intermediary for a service referred to in paragraph (a), (b), or (c), means a person who is a consumer under that paragraph

   consumer credit contract—

   1. has the same meaning as in section 11 of the Credit Contracts and Consumer Finance Act 2003 (and for that purpose sections 12 to 14 and 15(1)(a), (c), and (ca) of that Act apply and section 15(1)(b) of that Act must be disregarded); but
   2. does not include—
      1. a contract referred to in section 15(1)(d) of that Act unless the contract is of a class prescribed by regulations made under this Act to be a class of consumer credit contract for the purposes of this definition; or
      2. a lease referred to in section 16 of that Act

   consumer insurance contract—

   1. means a contract of insurance ordinarily entered into by a New Zealand policyholder wholly or predominantly for personal, domestic, or household purposes; and
   2. also includes a contract referred to in subsection (2); but
   3. does not include—
      1. a contract to the extent that it provides for life insurance or health insurance; or
      2. a contract that is subject to a certificate under section 446T(1)

   creditor has the same meaning as in section 5 of the Credit Contracts and Consumer Finance Act 2003

   incentive has the meaning set out in section 446M

   insurer means a person who—

   1. carries on insurance business in New Zealand (within the meaning of section 8 of the Insurance (Prudential Supervision) Act 2010); and
   2. enters into any 1 or more of the following with 1 or more New Zealand policyholders:
      1. a consumer insurance contract:
      2. a contract of insurance that provides for life insurance or health insurance (or both)

   involved has the meaning set out in section 446Q(3) and (4)

   New Zealand policyholder has the same meaning as in section 6 of the Insurance (Prudential Supervision) Act 2010

   relevant service has the meaning set out in section 446F

   retail client—

   1. has the same meaning as in section 49 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008; but
   2. does not include a person who has given a certificate for the service under section 446T(3).

2. For the purposes of paragraph (b) of the definition of consumer insurance contract in subsection (1), a contract of the kind referred to in this subsection is a contract of insurance to the extent that—

3. it is entered into by the policyholder in order to provide insurance cover for 1 or more other persons, or it is varied or extended in order to provide cover for 1 or more other persons; and
4. those other persons are not parties to the contract; and
5. those other persons would ordinarily have the benefit of that insurance cover wholly or predominantly for personal, domestic, or household purposes.

Example

A bank enters into a contract of insurance with an insurer.

The bank then offers credit cards to its customers that provide them the benefit of travel insurance cover under that contract.

The bank enters into the contract of insurance for commercial purposes. However, the contract is a consumer insurance contract to the extent that its customers have the benefit of the travel insurance cover for their personal purposes.

6. Subsection (2) does not apply to a contract if the insurance cover referred to in that subsection is only a minor or an incidental part of the insurance cover provided by the contract as a whole.