Lead signal
Insurers are being looked at from three directions at once: a fire levy regime that has been live since 1 July with transitional rules still in play, CoFI expectations around sales incentives, and a privacy inquiry that has already found breaches over health data security. The BNZ undertaking and the outsourcing decision show the same tests apply to premium calculations and to vendors.
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Regulatory radar overview
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Regulatory changes on the radar
Fire levies changed on 1 July
- Who it affects
- general insurers and any firm collecting fire levies on insured property
- What it can disrupt
- levy calculation, remittance reporting and billing systems now serving two regimes at once
- Why it matters now
- in force since 1 July. Transitional rules still apply to pre-July contracts
Health data breach findings landed
- Who it affects
- health and life insurers holding sensitive health and personal information
- What it can disrupt
- security safeguards that would not survive a post-breach inquiry into whether they were reasonable
- Why it matters now
- Phase 1 found Privacy Act breaches in May. Compliance notices are coming and Phase 2 is next.
Sales incentives under the microscope
- Who it affects
- insurers running sales campaigns or offering benefits to advisers and other third parties
- What it can disrupt
- governance, record keeping and outcomes monitoring around incentives that cannot show fair treatment
- Why it matters now
- findings published under the CoFI regime. Expectations are now on record.
Climate reporting paused, not cancelled
- Who it affects
- life and health insurers in the climate related disclosures regime
- What it can disrupt
- reporting calendars, and any voluntary climate disclosures, which still carry fair dealing risk
- Why it matters now
- no action position effective 19 June 2026, pending legislation. The statutory duty exists until Parliament removes it.
$2.6m for a calculation mismatch
- Who it affects
- insurers whose systems calculate premiums, discounts or fees against published policy terms
- What it can disrupt
- calculation engines that drifted from the terms customers actually signed
- Why it matters now
- enforceable undertaking accepted after $5.39m in underpaid interest. Find the drift before the regulator does.
Outsourcing does not outsource accountability
- Who it affects
- insurers relying on claims administrators, assessors or software vendors that hold policyholder data
- What it can disrupt
- vendor contracts and oversight that leave privacy obligations implied rather than enforced and monitored
- Why it matters now
- decision published and the stores named. The principle applies well beyond retail.
Compiled with care from public sources; errors and omissions excepted. Always check the linked source before acting. Regulatory Radar is general information, not legal or compliance advice.