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Last Article Uploaded: Friday, May 29th, 5:56PM
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FMA starts major investigation into churn

The Financial Markets Authority has launched a massive investigation into life insurance churn using special powers it has under law.

Friday, May 29th, 6:00AM

The authority has written to 12 insurance firms ordering data on all new policies written in the past five years including policyholder details, adviser details, commission payments made to advisers.

It has also included a detailed questionnaire asking questions including ones around what premium levels would be if churn was reduced and also questions around claims experiences on replacement business...MORE»

Risk adviser's guide to the FAA review

Wednesday, May 27th, 6:01AM

The Issues Paper for the Review of the Financial Advisers Act 2008 and the Financial Service Providers (Registration and Dispute Resolution) Act 2008 is now out.

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Southern Cross: Claims keep growing

Wednesday, May 27th, 6:00AM

Southern Cross paid out 2.3 million claims last year, worth $803.4 million.

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Previous News

New Zealand advisers won't dodge bullet: Rickerby

Tuesday, May 26th, 6:00AM

New Zealand financial advisers should be prepared for commission cuts such as those happening in Australia, one adviser who works on both sides of the Tasman says.

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AIA gets new chief executive

Thursday, May 21st, 10:22AM

AIA chief executive Wayne Besant is leaving New Zealand to take up a role with the company in Vietnam.

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Claims top $1 billion for another year

Wednesday, May 13th, 3:38PM

Personal insurance claims have topped $1 billion for the fourth year in a row, new statistics from the Financial Services Council show.

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Cosignia acquired

Wednesday, May 13th, 6:00AM

It will be business as usual for insurance advisers who deal with Cosignia, despite the sale of the firm’s assets to Australia’s largest third-party claims administrator.

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Old trail income under review

Monday, May 11th, 6:00AM

Registered financial advisers receiving trail commission on category one products they are no longer allowed to offer advice on will come under scrutiny in this year’s Financial Advisers Act review, the Ministry of Business, Innovation and Employment says.

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  • FMA starts major investigation into churn
    “A review of churn, alongside a review of commissions, is going to eventually bring us to an obvious conclusion - level commissions...”
    2 hours ago by Goldstar
  • FMA starts major investigation into churn
    “Does anyone know if the Banks are included in this fishing exercise? And how will the FMA be able to differentiate between...”
    1 day ago by I was wondering
  • Getting to know...Peter Leitch
    “And a thoroughly nice guy to boot. "Good on yer, Peter! We need more advisers of your ilk" (Wonder how many will scurry...”
    1 day ago by Robert Oddy
  • Did issues paper miss opportunities?
    “This response is an attempt to get some debate going here. Angus is reported as making 3 major points here. I would grade...”
    1 day ago by Murray Weatherston
  • Getting to know...Peter Leitch
    “Never met the Mad Butcher, I am sure he is a nice chap. I have met this Peter Leitch and he is definitely a nice chap; and...”
    1 day ago by Giles Thorman
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