Insurance policy churn rates 'a disgrace', says NZ Shareholders' Association

Fri, 01 Jul 2016

By Jonathan Underhill July 1 (BusinessDesk) - Figures showing some financial advisers have high insurance policy churn rates, where customers are shifted from one policy to another with no benefit other than generating a commission, are "a disgrace" and Kiwis need more protection from "salespeople dressed up as advisers," says the NZ Shareholders' Association. The NZSA was commenting on a Financial Markets Authority survey released this week that showed that out of 1,100 'high volume' advisers with more than 100 active life insurance poli...

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