The Human Rights Commission has dropped High Court action against several health insurers after reaching a settlement.
The commission was seeking a court ruling on whether health insurance companies that raised rates for people over the age of 65 were breaking the law. It also was asking what factors companies should take into account when setting premiums.
The commission says the withdrawal was part of a negotiated settlement. As part of the settlement the companies involved, believed to be Aetna Health, Southern Cross and National Mutual Health, will help the Government Actuary and the Society of Actuaries develop guidelines for health insurance.
An Essential Read
You can order your copy of the newly released book, The Essential Guide to Financial Planning through Good Returns' bookstore.
The Essential Guide is a must read for anyone who wants to improve their skills, or wants to become a professional financial planner.
The book is written by the winner of last year's Financial Planner of the Year Awards, Rodger Spiller, and is published by CCH.
The Guide includes four unique modules to guide adviser and client through the advice session.
To find out more about this book and secure your copy now go to the bookstore. Click here to get there straight away.
Index changes
The Stock Exchange has removed Brierley Investments from the NZSE10 index because the company's primary listing is now in Singapore. However, BIL will remain indexed in the NZSE30 and 40, but on a percentage weighted basis on line with its new status as an overseas listed issuer. Its weighting in the NZSE30 and 40 will reduce from the close of business on April 3.
NZSE40 and NZSE 30: No changes
NZSE Mid Cap:
Out: Tower, Natural Gas, Transalta, Tower notes, Kiwi Income convertible notes, AMP Office convertible notes
In: Advantage, Metlifecare, Mainfreight.
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