Insurers say competition and pressure from advisers is forcing them to come up with better policies than those offered by banks.
Life insurance has been in the news this week after it was revealed that a number of the major banks were reviewing their policy wordings, particularly related to the definition of a heart attack.
Commonwealth Bank of Australia, parent of ASB, earlier this year came under fire when it turned down a claim from a man who died of a heart attack and was resuscitated.
It would not pay out because the level of a hormone called Troponin in the man's body had not reached a level required in the policy wording...MORE»
Thursday, July 14th, 1:27PM
Fidelity Life has named a new chief executive to replace Milton Jennings - and the successful candidate is from another life company.MORE»
Thursday, July 14th, 6:00AM
A decision not to pursue explicit commission restrictions has been welcomed by New Zealand insurers.MORE»
I get sick of reading articles in mainstream media about premiums being higher than claims and this being considered a bad thing.MORE»
Insurers say there has been strong demand for products that require no underwriting.MORE»
Adviser associations are hoping the Financial Markets Authority will act quickly on any instances of bad behaviour among insurance advisers.MORE»
[SPONSORED CONTENT] Not-for-profit health insurer Accuro, is celebrating 45 years taking care of New Zealanders – a huge milestone for the organisation that was started in the Wellington offices of the Hospital Boards’ Association in the old DIC building in Lambton Quay.MORE»
The Financial Markets Authority has identified its target and will start to knock on the doors of advisers it is worried are churning business.MORE»