Life insurance sales in New Zealand are in the FMA spotlight following a campaign for change in Australia’s life insurance industry.
Last week the FMA confirmed it had subpoenaed “the main life insurers” for information regarding a wide range of life insurance products sold over the last four years.
In a statement by FMA’s general counsel, Liam Mason said the data requested under section 25 of the regulator’s 2011 establishing legislation – would form “”part of an exploratory project into insurance churn and replacement”.
Click here to read more in the Herald’s article by David Chaplin.