tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Sunday, June 23rd, 2:52PM

Insurance

rss
Latest Headlines

Campaign to tackle under-insurance launched

Auckland financial advice consultant, and former life company chief executive, David Whyte, is seeking support for a campaign to tackle New Zealanders’ under-insurance problem.

Thursday, April 18th 2013, 5:44PM

by Susan Edmunds

David Whyte, of DCW Management, has launched the Campaign for Financial Protection. He says his first goal is to raise money to pay a marketing firm to build a long-term strategy for engaging government, industry and educational establishments.

He has been spurred on by recent reports, including that from the Financial Services Council, which found that New Zealand ranked 28 out 31 OECD countries for personal insurance product penetration.

More than 40% of households had severely inadequate life cover for the primary earner. But only 11% of New Zealanders thought they needed income protection insurance.

Whyte said: “I believe something more needs to be done to raise awareness. The devastation caused by no or low financial protection is a community issue which needs elevation by government, the industry, the media, and the educational authorities.”

He said 60% of the New Zealand population did not have access to a financial adviser and did not understand the value proposition.  “At the moment, with no context for a relationship, and no visible means of creating a connection, these folk will either land up at the bank's insurance services by default, or remain as they are - without adequate financial protection.”

More information can be found at www.financial-protection.org or in the April issue of ASSET magazine.

« Insurer pays out $160,000 for surgeryTNP looks to corporatised advice model »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

PIC Insurance Brokers partners with RE/MAX New Zealand
PIC Insurance Brokers has entered into a new strategic partnership with real estate company RE/MAX New Zealand as the exclusive insurance broker.

New customers get 3-months' premium-free on Fidelity Life
Fidelity Life has announced a special offer to cover new customers’ premiums for the first 3-months of their policies.

Premium relief for customers in drought areas
Fidelity Life offers premium relief to drought-affected customers

Fidelity Life relaunches customer engagement initiative
Once again Fidelity Life wants to recognise advisers who go above and beyond to deliver amazing customer service.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x