FMA, RBNZ disappointed by life insurers' response; $1.4m of issues found

Mon, 16 Sep 2019

By Jenny Ruth Sept. 17 (BusinessDesk) - Sixteen New Zealand insurers have identified more than 75,000 customer issues valued at least $1.4 million but regulators still say they are disappointed by the life insurance industry's response to their conduct and culture review. "Overall, the regulators were disappointed by the responses. Significant work is still needed to address the issues of weak governance and ineffective management of conduct risk," the Financial Markets Authority and the Reserve Bank of New Zealand say in a joint statemen...

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