Legal and regulatory update for the life and health insurance sector

26 Sep 2023 - The Federal Court of Australia has ordered ANZ to pay a $15 million penalty after it admitted to misleading customers as to the funds available to those consumers in certain credit card accounts. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-260mr-anz-penalised-15-million-for-misleading-customers-about-available-funds/

27 Sep 2023 - The Reserve Bank of New Zealand – Te Pūtea Matua has launched the final policy consultation on the review of the Insurance (Prudential Supervision) Act (IPSA) 2010 https://www.rbnz.govt.nz/hub/news/2023/09/ipsa-consultation