Regulatory Alerts2022-05-17
Reserve Bank of New Zealand Review of Insurer Risk Governance Quality
The Reserve Bank of New Zealand published findings from a 2014 thematic review of risk governance practices among 17 licensed insurers. The report identifies strengths in board accountability and risk culture while highlighting weaknesses in risk appetite frameworks, independent assessments, and staff incentives. It encourages all insurers to strengthen their risk governance by embedding effective behaviors and aligning incentives with risk objectives.
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