The Reserve Bank of New Zealand (RBNZ) is surveying insurers on the way they assess catastrophe risk exposure, as it considers stepping up its information gathering.

“This survey will assist the bank to better understand how insurers are prudently managing their exposures to catastrophe risks, and to consider whether there is value in regular reporting of catastrophe exposures beyond the limited data currently collected,” it says.

The survey, to be completed by February 28, will examine processes and governance related to natural and man-made disaster risks. Topics include the role of the board, senior management and the appointed actuary, use of expert or external advice, and details about how exposure is calculated.

The RBNZ says the survey relates to any financial year that includes dates in calendar 2016.

“The analysis may have been performed for the purpose of informing decisions for reinsurance for that financial year, calculating solvency (for RBNZ or for other regulators) as at the end of the previous financial year, or for other reasons,” it says.

The bank says it may conduct a follow-up survey next year.