RBNZ mulls insurance policyholders' guarantee scheme

Tue, 24 May 2022

The Reserve Bank of New Zealand (RBNZ) said it will be undertaking further analysis of whether NZ needs an insurance policyholder guarantee scheme.This follows a round of consultation on the rules governing policyholder security and what legislative changes might be needed, which included a question on whether NZ should have such a scheme."While industry stakeholders felt this would be costly and unnecessary, consumers were more open to the idea, but also had concerns about scheme coverage and how costs would be managed," the RBNZ sai...

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