Making RBNZ the insurance supervisor was a mistake: Brash

Tue, 09 Apr 2019

By Jenny Ruth April 10 (BusinessDesk) - It was a mistake to make the Reserve Bank the prudential supervisor of the general insurance industry, according to former bank governor Don Brash. His criticism is backed by Tower Insurance chief executive Richard Harding who says the current regulatory and supervisory framework administered by the Reserve Bank has proven to be "materially flawed and urgent overhaul is required.” However, the pair part company on what the correct remedy should be. And the Insurance Council of New Zealand, whi...

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