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

NZ's Financial Adviser News Centre

GR Logo
Obituary - Highly respected adviser moves on READ ON Dismiss
Last Article Uploaded: Saturday, September 25th, 8:04AM

Insurance

rss
Latest Headlines

Commission files charges against Youi insurance

The Commerce Commission has filed charges in the Auckland District Court against insurance firm Youi NZ Pty Limited, alleging it employed misleading sales techniques when attempting to sell policies to consumers who were only seeking a quote.

Thursday, August 11th 2016, 10:19AM

The 15 charges Youi faces under the Fair Trading Act are representative and relate to alleged misrepresentations made between July 2014 and February 2016. Specifically, the Commission alleges that Youi:

• made false or misleading representations on its website regarding consumers’ ability to obtain a quote online

• made false or misleading statements during telephone sales calls with consumers, including telling them bank or credit card details were required to generate a policy quote

• asserted a right to payment for unsolicited insurance policies by sending letters demanding payment and/or debiting consumers’ bank or credit card accounts without their express permission or knowledge

• sent invoices to consumers in relation to unsolicited insurance policies that did not specify that the consumer was under no obligation to pay for the policies.
Youi has co-operated with the Commission’s investigation and has indicated that it intends to plead guilty to the charges. As this matter is before the Court, the Commission cannot comment further at this time.

 

Tags: Youi

« Kiwi company attracts $200 million global investmentIncome drop sign of move to slow, steady growth for Partners »

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

FMA licensing workshops popular with Fidelity Life advisers
A series of online licensing support workshops jointly hosted by Fidelity Life and the Financial Markets Authority have attracted almost 200 adviser registrations.

Check your cover and win a prize - ICNZ
This week is Money Week and the Insurance Council of New Zealand (ICNZ) is encouraging New Zealanders to make one day their ‘Insurance Day’ to ensure their insurance meets their needs.

Tower hits the water with boat insurance offering
Tower Insurance has announced it will now be offering boat insurance policies online. 

$10k scholarship for insurance professionals opens
Submissions are now open for a scholarship designed to support the professional growth and development of insurance industry practitioners in New Zealand.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE 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