Insurance

RBNZ plans to life company on-site inspections

Saturday 12th of March 2022

The central bank wants "the power to carry out on-site inspections at insurers' premises, including, where necessary, without prior notice", the central bank said in a consultation paper.

The RBNZ became the prudential regulator of insurance companies when the Insurance (Prudential Supervision) Act (IPSA) was passed in 2011 but that law only allows it to physically inspect...

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