Michael Woodhouse MP: Support for AMI policyholders

Monday, April 11, 2011

Support for AMI policyholders

The Government is providing a back-up financial support package for AMI Insurance to give certainty to tens of thousands of policyholders, and to ensure an orderly rebuild of Christchurch in the aftermath of the two earthquakes. It was the Government’s judgment that a support package was necessary to give certainty to policyholders that their claims would be covered. This applies to all AMI policyholders – not just those in Christchurch where AMI has about 35 per cent of the residential insurance market. The support package would be a last resort if AMI’s own reserves have been exhausted. If the package is called on, the Government would invest up to $500 million of equity in AMI, with the right to take ownership and assume control of the company if it needs to. The alternative of doing nothing would potentially leave thousands of AMI policyholders without the insurance cover and financial resources needed to rebuild. More information: http://www.beehive.govt.nz/release/back-financial-support-ami-policyholders

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Background:

I was most recently the Chief Executive Officer of Mercy Hospital Dunedin, a position I held for 7 ½ years. Previous to that I held senior management positions with ACC, where I was instrumental in implementing ACC’s Elective Services Contracting framework and at Dunedin Hospital in change management, revenue and planning roles.

I was educated at St Pauls High School (now Kavanagh College) and graduated from the University of Otago with a Bachelor of Commerce degree. I am a Chartered Accountant and also have a Master of Health Administration from the University of New South Wales.

I was also the President of the NZ Private Surgical Hospitals Association and have also been the Vice President of the NZ Private Hospitals Association, a larger organisation which included the private aged care sector. I am also a Fellow of the New Zealand Institute of Management and the New Zealand Institute of Directors.

I have been a Rotarian since 2001 and am active in community and voluntary work in the region. I am an avid rugby fan, having played age group representative rugby for Otago and South Island teams and am a premier grade referee as well as a “fair weather” runner. My wife Amanda and I and our three daughters have a crib in Cromwell and in our spare time enjoy the great outdoors of Central Otago.

Responsibilities:

I am a member of the Health Select Committee, and of the Transport and Industrial Relations Select Committee.

I am also a member of the National Party’s Economic and Commerce Caucus Committee.

My Commitment as Your MP:

I firmly believe in the values that underpin the National Party – loyalty, security, equity of opportunity, freedom and choice, limited Government, strong families, caring communities and a sustainable environment.

I commit to maintaining those values and working on your behalf to ensure that these important principles are upheld. Although not an electorate MP, I believe all MPs have a responsibility to represent and advocate for the people in their communities.