Don't hold your breath for life insurance reform

Mon, 06 Jan 2020

Will 2020 be the year New Zealand's life insurance industry calls time on policy churn and excessive broker commissions?Despite the Financial Markets Authority and Reserve Bank's efforts over the past 18 months and Commerce Minister Kris Faafoi introducing the Financial Markets (Conduct of Institutions) Amendment Bill into Parliament in December, the short answer is - probably not.The industry's economic significance is far from small: there are about four million life insurance policies in force with annual premiums totalling $2.57 billion.The...

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