Questions are being asked about whether insurance broker dealer groups will survive if recommendations suggested by a report into the insurance industry are adopted.
Actuaries Melville Jessup Weaver (MJW) have been working on a report for the Financial Services Council.
It is intended to suggest a solution for any misalignment of incentives between advisers and clients that it uncovered. It follows a similar report by John Trowbridge in Australia, which led to large reduction in advisers' upfront commissions.
An early draft of the MJW report was submitted to the FSC Council for review at a recent meeting but was sent back for more work...MORE»
Monday, October 12th, 1:13PM
More people are broke – and more people are wealthy – meaning more diverse choices for excess levels and waiting periodsMORE»
Friday, October 9th, 4:12PM
AIA is unlikely to have to pay out many claims that reach the full extent of its new $500,000 medical cover.MORE»
More than 460 customers have used Asteron Life’s new online LifeSnap tool in its first month of operation.MORE»
AIA has signalled its growth intentions with enhancements to its personal product range, and launching with a new health product that lifts medical cover to $500,000, with a discount regime to make their insurance products more affordable for customers.MORE»
Retirees have the highest level of wellbeing in New Zealand but young Kiwis are not on track to achieve the same results, researchers say.MORE»
Kevin Smee has pulled 70 brokers from adviser group Kepa.MORE»
Financial adviser complaints made up just 2 per cent of the total complaints dealt with by the Insurance and Savings Ombudsman scheme in the latest financial year.MORE»