Legal and regulatory update for the life and health insurance sector
17 Oct 2023 - The Australian Prudential Regulation Authority (APRA) has released its Life Insurance Claims and Disputes Statistics publication, covering a rolling 12-month period from 1 July 2022 to 30 June 2023. https://www.apra.gov.au/news-and-publications/apra-and-asic-publish-latest-data-on-life-insurance-claims-and-disputes-7
18 Oct 2023 - The Australian Prudential Regulation Authority (APRA) has released its 2023 authorised deposit-taking institutions (ADIs) points of presence statistics.
The points of presence statistics are a detailed listing of the physical banking service channels provided to Australians, including branches, ATMs and EFTPOS facilities. https://www.apra.gov.au/news-and-publications/apra-releases-latest-points-of-presence-statistics-for-authorised-deposit
19 Oct 2023 - The Australian Prudential Regulation Authority (APRA) has released observations on credit risk provisioning practices for locally incorporated authorised deposit-taking institutions (ADIs). https://www.apra.gov.au/news-and-publications/apra-releases-observations-on-credit-risk%C2%A0provisioning-practices-for-locally
19 Oct 2023 - The FMA has reviewed an existing class exemption notice that allows product disclosure statements to be provided in full in both te reo Māori and English (dual language PDSs) and granted the extension to continue this relief. https://www.fma.govt.nz/business/focus-areas/consultation/dual-language-te-reo-maori-pds/
20 Oct 2023 - Peter Boshier, Chief Ombudsman, publishes his 2022/2023 Annual Report https://www.ombudsman.parliament.nz/news/trust-and-demand-ombudsmans-services-higher-ever