FMA hopes sunlight on adviser junkets will spur change to incentive programmes

Wed, 16 May 2018

By Paul McBeth May 16 (BusinessDesk) - The Financial Markets Authority wants insurers to rethink their sales incentives after a report found junkets were being dangled to advisers as a sweetener for a hard pitch on new life and health insurance policies. The market watchdog today released a report on how nine life and health insurers provide non-financial incentives to advisers, such as offering trips, training and conference events, showing the firms spent $34 million on the soft commissions over a two-year period, amounting to 9 percen...

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