This article explains how New Zealand carries out its review of the insurance law. Some of the key points that struck me are:
a) The law was last changed six years ago. The stakeholders said that this is a long enough period for the law to be reviewed.
b) The regulator asked stakeholders to identify the issues that needed to be addressed.
c) They are looking at activites that are now working well.
I find their approach to be very good. Singapore can learn from them.
http://www3.asiainsurancereview.com/News/View-NewsLetter-Article/id/38705/Type/eDaily/New-Zealand-Regulator-starts-review-of-insurance-law
a) The law was last changed six years ago. The stakeholders said that this is a long enough period for the law to be reviewed.
b) The regulator asked stakeholders to identify the issues that needed to be addressed.
c) They are looking at activites that are now working well.
I find their approach to be very good. Singapore can learn from them.
http://www3.asiainsurancereview.com/News/View-NewsLetter-Article/id/38705/Type/eDaily/New-Zealand-Regulator-starts-review-of-insurance-law
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