Regulatory Alerts2022-05-17
Civic Solvency Standard August 2013 (incorporating amendments to December 2014) FINAL
The Reserve Bank of New Zealand issued this solvency standard under the Insurance (Prudential Supervision) Act 2010 to regulate the financial requirements of the New Zealand Local Government Insurance Corporation Limited, trading as Civic Assurance. The document incorporates the Solvency Standard for Non-life Insurance Business in Run-off with specific modifications, including unique definitions for LAPP policies and distinct reinsurance risk capital charge calculations for those policies. This regulatory instrument was effective upon issuance but is explicitly marked as revoked in the provided text.
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