New Zealand’s life insurers failing to improve conduct risk management – Orr

Conduct risk

The governor of the Reserve Bank of New Zealand is still not confident life insurers are acting in the best interest of customers, after the central bank raised concerns around their conduct.

“The life insurance sector has failed to demonstrate the necessary urgency and prioritisation around investment in systems, to provide effective governance and monitoring of conduct risk,” Adrian Orr said in remarks in Auckland on November 19.

Earlier this year, the central bank and Financial Market

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