News

Major makeover proposed for Life Insurance Act

Thursday 22nd of January 2004
The review was set up by Commerce Minister Lianne Dalziel after widespread concern that the current Life Insurance Act is out of date. Passed in 1908, many of its measures assume the market is still dominated by mutual societies.

Under the current law disclosure of financial statements is only required to potential holders of savings policies, as distinct from risk only policies, and even then...

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