The Reserve Bank of New Zealand (RBNZ) has released a consultation paper on its plan for regular insurance data collection and reporting.

It will host seminars on the change in Wellington on September 11 and Auckland on September 12.

To attend, insurers must respond to insurancedata@rbnz.govt.nz by Friday, indicating the size of their group and their chosen session.

“The intention is to start regular data collection in the first half of 2015,” the bank says.

Insurers will make practice submissions to familiarise themselves with the new process before it takes effect.

Updates on the process, including practice returns, will appear on the RBNZ website, as will templates and instructions once data collection requirements are finalised.

The bank says the review will include the top 10 locally incorporated insurers by gross written premium and up to 10 others, to get representation across the sector.

The aim is to assess the quality of risk governance.

Submissions are due by October 8. The paper can be found here.