News Non-Life31 May 2019

New Zealand:Insurance pricing has become more risk-sensitive

| 31 May 2019

Insurers are increasingly using granular data on risk exposures and historical claims experience to price risks more accurately. A consequence of this greater 'risk-based pricing' is increased selectivity, differential pricing and changes in levels of coverage for insurance contracts, says the Reserve Bank of New Zealand in its May 2019 Financial Stability Report released earlier this week.

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