RBNZ's warning to general insurers

Tue, 05 Nov 2019

The governor of the Reserve Bank of New Zealand has warned the wider insurance industry that regulators will be back for them following a damning report into the conduct of life insurers. Speaking at an industry event, Adrian Orr urged general insurers to have a look at themselves following the central bank’s joint report with the Financial Markets Authority into life insurers. The January report found extensive weaknesses in their systems, controls and governance. “I have no evidence to say it is not the same with general insurers, w...

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