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FYI: How to quote Partners Life Income and Expenses or Moderate Trauma Cover

Legal and regulatory update for the life and health insurance sector

13 Sept 2021 - RBNZ Over September RB are conducting a quantitative impact assessment exercise with selected insurers, to help understand the capital impacts of the draft interim solvency standard. They have published a template for feedback. https://www.rbnz.govt.nz/regulation-and-supervision/insurers/consultations-and-policy-development-for-insurers/active-policy-development/review-of-the-insurance-solvency-standards

14 Sept 2021 – FMA stories released comment from Derek Grantham titled “The Goldilocks dilemma (or how to choose the FAP full licence class that’s just right).” https://www.fma.govt.nz/news-and-resources/fma-stories/the-goldilocks-how-to-choose-the-fap-full-licence-class-thats-just-right/

14 Sept 2021 - MBIE sought submissions on whether to reissue the Addendum to the Responsible Lending Code, which elaborates on and offers guidance on how lender responsibility principles and lender responsibilities may be implemented by lenders while dealing with borrowers who have been impacted by COVID-19. Submissions close on 22 Sept 2021. https://www.mbie.govt.nz/have-your-say/addendum-to-the-responsible-lending-code-covid-19

14 Sept 2021 – Commerce Amendment Bill reported back to Parliament from the Select Committee. https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_108304/commerce-amendment-bill

15 Sept 2021 – FMA media release advised that the FMA has seen a spike in investment scam complaints, issuing more warnings, since start of COVID-19. https://www.fma.govt.nz/news-and-resources/media-releases/fma-sees-spike-in-investment-scam-complaints/

15 Sept 2021 – Privacy Commissioner issued a compliance notice to the Reserve Bank of New Zealand, triggered by a cyber-attack in December 2020.

https://privacy.org.nz/publications/statements-media-releases/compliance-notice-issued-to-reserve-bank-of-new-zealand-following-cyber-attack/

https://www.rbnz.govt.nz/news/2021/09/privacy-commissioner-issues-first-compliance-notice-to-reserve-bank-of-new-zealand

 

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