Insurance Review
Churn report should include banks: Insurers
Wednesday 29th of June 2016
The FMA has released its report into replacement business, which identified a small number of advisers who were writing potentially concerning amounts of replacement business.
It focused only on RFAs and AFAs. The FMA said while banks could mis-sell insurance products, they could not “churn” because they only had one set of products to sell.
Naomi Ballantyne, of Partners Life, sai...
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