In episode 2 of JRNY's Insurance 2.0 series, Claude sits down with lawyers Maria and Andrew from Minter Ellison to discuss the practical implications for New Zealand insurers of the recent FMA/RBNZ report into the conduct and culture of life insurers in New Zealand.
In this episode we explore what regulation changes should we expect, changes the industry should start making now, the likelihood of changes applying to personal lines. We also discuss technology help with compliance obligations.
Andrew is partner at Minter Ellison and leads their Insurance practice. He has more than 25 years’ experience advising insurers, insureds and major insurance brokers, including leading cases in the High Court and Court of Appeal. He is the editor of Minter Ellison’s insurance publication, Cover to Cover, and regularly presents at the firm’s insurance round-table events.
Maria is a Senior Associate in the financial services team. She has significant expertise in managed funds, financial markets conduct law (including under the new financial advisers’ regime) and insurance law. She regularly provides transactional and regulatory compliance advice under the Financial Markets Conduct Act, Financial Advisers Act, Insurance (Prudential Supervision) Act and the Anti-Money Laundering and Countering Financing of Terrorism Act. Her clients include many of the top financial services entities in New Zealand as well as significant Australian and international fund managers and financial services businesses with interests in New Zealand.
More information about the report itself can be found on Minter Ellison's website here.