The Reserve Bank of New Zealand has published updates to its insurer data collection requirements.

They include guidance for the insurer return and quarterly insurer survey, updated definitions for materiality in relation to the survey, and instructions for submissions.

Insurance Oversight Manager Peter Brady says further updates to the guidance will follow “over the coming months”, based on insurer queries and implementation issues that have been uncovered.

Updates are saved on the New Zealand Insurer Data Collections webpage.

Mr Brady says insurers should check regularly for updates “because all insurers are expected to use the correct versions of forms, definitions and instructions”.