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ARTICLE · 31 MARCH 2014

Insurance regulation in New Zealand

Norton Rose Fulbright Australia
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The provision of advice or other services in relation to insurance products is regulated.

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Anna Tipping
Anna Tipping
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  1. The regulator

Reserve Bank of New Zealand (RBNZ), which gains its authority under the Insurance (Prudential Supervision) Act 2010. Any entity that assumes liabilities to New Zealand policyholders under a contract of insurance is an insurer and requires a licence from and is regulated by the RBNZ.

The provision of insurance broking services and other insurance intermediation services is regulated, although no authorisation is required under New Zealand legislation.

The provision of advice or other services in relation to insurance products is regulated and the provider may need to be registered and/or authorised.

  1. Subsidiary/Branch

Insurers:

  • an insurer may be a local entity or a branch of a foreign insurer

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