Legal and regulatory update for the life and health insurance sector
18 Aug 2023 - The Australian Securities and Investments Commission (ASIC) today confirms several executive changes within its senior leadership team. https://asic.gov.au/about-asic/news-centre/news-items/asic-announces-executive-appointments/
23 Aug 2023 - The Reserve Bank of New Zealand has published a Bulletin article highlighting high level results from a survey of prudentially regulated entities on climate change. Almost all entities’ governance bodies are discussing climate-related risks on a regular or ad hoc basis (28 out of 29). Concerns about climate-related risks are influencing day-to-day business decisions more than they were in 2019. However, only 3 out of 29 entities stated they have ‘fully embedded’ different aspects of climate-related risk management in the manner they already do for other business risks. https://www.rbnz.govt.nz/hub/news/2023/08/rbnz-releases-results-of-industry-climate-survey
23 Aug 2023 - APRA releases quarterly private health insurance statistics for June 2023 https://www.apra.gov.au/news-and-publications/apra-releases-quarterly-private-health-insurance-statistics-for-june-2023
23 Aug 2023 - The FSC have published 'KiwiSaver serious illness and life-shortening congenital conditions processing guidelines' https://blog.fsc.org.nz/guidelines-kiwisaver-serious-illness
24 Aug 2023 - The Reserve Bank of New Zealand has published new statistics from the monthly Loan-to-Valuation New Commitments Survey. The Loan-to-Valuation New Commitments Survey collects data from registered banks on new mortgage lending commitments during the month. On 31 August, RBNZ will also publish new statistics from the Bank Balance Sheet Survey (BBS), making more data available to all users on their website. The Bank Balance Sheet Survey collects data from registered banks on non-performing loans (impaired or more than 90 days past due) and provisions (for potential bad debts) across the banking system. https://www.rbnz.govt.nz/statistics/series/lending-and-monetary/new-residential-mortgage-lending-by-loan-to-valuation-ratio
24 Aug 2023 - The Reserve Bank of New Zealand has completed a review of its Connected Exposures policy; the finalised policy has now been published and is expected to come into effect on 1 October 2023. https://www.rbnz.govt.nz/hub/news/2023/08/connected-exposures-policy-finalised
24 Aug 2023 - The Australian Prudential Regulation Authority (APRA) has advised it will suspend the release of the September 2023 editions of the quarterly insurance statistical publications ordinarily released in late November 2023. https://www.apra.gov.au/news-and-publications/apra-suspends-publication-of-next-quarterly-insurance-statistics
24 Aug 2023 - Today, the privacy protection authorities of New Zealand, Canada, Australia, the United Kingdom, Hong Kong, Switzerland, Norway, Columbia, Morocco, Argentina, Mexico and Jersey are issuing statements on data scraping, and how the public can protect their privacy. https://privacy.org.nz/publications/statements-media-releases/new-zealand-part-of-global-effort-on-data-scraping/
25 Aug 2023 - ASIC has welcomed three new Commissioners to ASIC - Ms Katherine O’Rourke, Mr Alan Kirkland and Ms Simone Constant https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-229mr-asic-welcomes-appointment-of-three-commissioners/
25 Aug 2023 - Chapter Zero has published an article on 'Data-driven decisions: Governance outtakes' https://www.chapterzero.nz/news/data-driven-decisions-governance-outtakes/