Legal and regulatory update for the life and health insurance sector
24 Oct 2023 - ASIC has signed the International Association of Insurance Supervisors (IAIS) Multilateral Memorandum of Understanding (MMoU), an international supervisor cooperation and information exchange agreement. The IAIS MMoU provides a global framework of compliance and confidentiality to allow for open cooperation and exchange between insurance supervisors. To become a signatory to the MMoU, applicants undergo a rigorous assessment of their professional secrecy regimes, conducted by an independent team of IAIS members. Through membership in the MMoU, supervisors can exchange relevant information and assist other signatories, thereby promoting the financial stability and sound supervision of cross-border insurance operations for the benefit and protection of consumers. https://asic.gov.au/about-asic/news-centre/news-items/asic-signs-mmou-with-the-international-association-of-insurance-supervisors/
24 Oct 2023 - This year’s Sir Bruce Slane Memorial Lecture on the topic of "Balancing privacy and other interests in the social media age" will be held on 6 December https://privacy.org.nz/news/forums-and-seminars/register/
25 Oct 2023 - The Australian Prudential Regulation Authority (APRA) has released its Operations of Private Health Insurers Annual Report for the financial year 2022-2023. The Operations of Private Health Insurers Annual Report shows expenses, revenues and operational information about private health insurers. https://www.apra.gov.au/news-and-publications/apra-releases-operations-of-private-health-insurers-annual-report-2
27 Oct 2023 - Financial Services Council released its KiwiSaver Industry Spotlight statistics for the Sep 2023 quarter. https://7422267.fs1.hubspotusercontent-na1.net/hubfs/7422267/FSC%20Corporate/Documents/Industry%20Statistics/SPOTLIGHT%20KiwiSaver%20SEP%202023.pdf
27 Oct 2023 - Chapter Zero publishes governance outtakes from their climate change and business conference https://www.chapterzero.nz/news/behavioural-change-for-climate-change/