Youi fined $320,000 for misleading sales practices

Thu, 15 Dec 2016

By Fiona Rotherham Dec. 15 (BusinessDesk) - South African-owned insurer Youi has been sentenced to a $320,000 fine in the Auckland District Court today after agreeing to plead guilty to 15 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 them their bank or credit card details were required in order to get a quote, and asking for payment for unsolicited policies. The maximum...

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