Legal and regulatory update for the life and health insurance sector

6 May 2024 - The Justice Select Committee are currently accepting submissions on the Privacy Amendment Bill with submissions closing on 14 June. https://www.parliament.nz/en/pb/sc/make-a-submission/document/54SCJUST_SCF_56E3FBE7-1F3D-464E-B54D-08DBAE8917AE/privacy-amendment-bill

9 May 2024 - The Australian Prudential Regulation Authority (APRA) has issued a letter to all private health insurers (PHIs) sharing the observations from its review of a number of PHI Internal Capital Adequacy Assessment Plan (ICAAP) Summary Statements as well as feedback on the initial implementation of the new capital reporting standards.    https://www.apra.gov.au/news-and-publications/apra%E2%80%99s-publishes-letter-to-support-implementation-of-new-phi-capital

13 May 2024 - The office of the Privacy Commissioner release a biennial privacy survey of New Zealanders. https://privacy.org.nz/publications/statements-media-releases/privacy-week-2024-new-survey-reveals-new-zealanders-privacy-concerns/