Industry must face up to trend for commission regulation
Massey University's Michael Naylor discusses the FMA's report on insurance replacement business.
The recent FMA “Replacing Life Insurance” report has to be viewed in the context of the overall discussion within NZ over commission and regulation. This includes the MJW and NZIER reports.
Within this context it’s interesting that the FMA choose to devote its scarce resources to investigating the policy replacement behaviour of AFA/AFA’s, indicating that either, (i) they regard the...MORE»
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'High-volume' advisers earn 50% moreThursday, June 30th, 6:00AM
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Churn report should include banks: Insurers
[UPDATED] Insurers have welcomed the Financial Markets Authority turning its attention to replacement business – but say it is incorrect that banks cannot churn customers.
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Former AIG managing director and GM of AIA NZ David Whyte argues a drop in commissions won't drive advisers out - because high commissions aren't attracting them in any great number.
MORE»Risk poor policy analysis could affect commission decisions
NZIER’s recent analysis of the NZ Life Insurance market for Sovereign Insurance purports to show that the life insurance market is shrinking, that new customers are more price sensitive than existing, and that a reduction on commissions could help reverse this, writes Michael Naylor.
MORE»Some advisers earning more than $750k per year
Insurance premiums would fall by up to 6% if advisers’ commissions were cut by a quarter, a new report says.
MORE»MJW fallout unexpected
One of the actuaries who prepared a controversial report into insurance commissions says he was surprised by the industry fallout from it.
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