Insurance

Regulators 'may misunderstand' legacy products

Thursday 14th of February 2019

As part of their report into the conduct and culture of New Zealand life insurers, the Financial Markets Authority and Reserve Bank questioned how legacy products were dealt with.

Legacy products are those that are no longer open to new clients but which are still offered for those who already have the policies.

The regulators said they heard evidence that insurers’ staff...

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