Update: Insurer Youi fined $320,000 out of potential $9 million fine for misleading sale practises

Thu, 15 Dec 2016

(Update: includes judge and victim comments) Dec. 15 (BusinessDesk) - By Fiona Rotherham South African-owned insurer Youi has been sentenced to a $320,000 fine out of a potential maximum penalty of $9 million in the Auckland District Court today after receiving hefty discounts for agreeing to plead guilty to 15 representative charges relating to misleading sales practises in New Zealand. The Fair Trading Act charges, brought by the Commerce Commission, included misleading its customers about their ability to get online quotes, telling...

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