Regulators identify life insurance bad behaviour but refuse to name names

Tue, 29 Jan 2019

By Jenny Ruth Jan. 29 (BusinessDesk) - One New Zealand-based life insurer has been selling a life product to foreign customers, even though cover was only available to New Zealand residents. Another insurer incorrectly recorded customers’ dates of birth, due to manual errors, resulting in 30 customers being overcharged. That insurer is now in the process of refunding those affected customers. Another incorrectly calculated the impact of a consumer price index-linked premium increase by up to 30 times. In all, 223 customers were over...

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