Government to fast-track bank, life insurance customer protection measures

Tue, 29 Jan 2019

By Rebecca Howard Jan. 29 (BusinessDesk) - The government will look to remove sales incentives in the life insurance industry and fast-track other customer protection measures in the financial sector after a report highlighted major issues in the insurance sector impacting on consumers. The joint report on the industry by the Financial Markets Authority and the Reserve Bank released today found the life insurance industry is vulnerable to misconduct, is ignoring whether its products are suitable for customers and is too slow to make chang...

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