RBNZ says licensed insurers failing to comply with disclosure rules

Thu, 29 Jun 2017

By Rebecca Howard June 29 (BusinessDesk) - The Reserve Bank says the overall level of compliance with disclosure rules on the part of licensed insurers falls well short of minimum requirements and needs to "markedly improve". "The level of compliance was generally disappointing," the central bank said after a review on compliance with financial strength rating and solvency disclosure requirements undertaken during February to June 2017. Of 36 surveyed licensed insurers, 53 percent of participants were assessed as complying at a low or poo...

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