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Last Article Uploaded: Monday, March 30th, 3:36PM


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Two big questions in conduct law causing advisers concern, and its unintended consequences

The Financial Markets (Conduct of Institutions) amendment Bill raises a big question about the future of commission.

Monday, March 30th, 10:35AM

The draft allows that the FMA will have the power to regulate incentives, and defines incentives clearly including the definition of commission (in section 446P). The effect is that the FMA will have the power to ban all commissions if it wishes.

While MBIE assured Katrina Shanks at Financial Advice New Zealand that the commission model was not under threat, only incentives tied...MORE»

Cigna joins redundancy cover freeze

Tuesday, March 24th, 10:06AM

Cigna is joining Fidelity Life and Partners Life in putting a hold on new sales of redundancy cover.


Newpark makes U-turn on FAP status

Monday, March 23rd, 6:46PM

Newpark Financial Services board met last week and has done a U-turn and decided to become a financial advice provider.



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nib: Significant impact coming from Covid-19

Monday, March 23rd, 12:39PM

Health insurer nib has withdrawn its market guidance for the 2020 financial year because of uncertainty about Covid-19.


Fidelity Life makes Covid-19 changes

Thursday, March 19th, 8:21PM

Fidelity Life has taken the same decision as Partners Life and has stopped selling redundancy cover.


Partners Life to pay override commission to advisers

Thursday, March 19th, 1:31PM

Partners Life is making major changes to its commission payments which will see payments made to FAPs based on customer outcomes rather than to dealer groups.


RBNZ can't say if or when it may approve AMP Life sale

Thursday, March 19th, 12:34PM

The Reserve Bank said it won't approve AMP Life's sale of its New Zealand life insurance business if it is "not comfortable" with it and said it can't provide a time frame for a decision.


Partners puts hold on redundancy cover

Monday, March 16th, 12:11PM

Partners Life has put a stop to sales of the redundancy benefit on its Mortgage Repayment Cover, in the face of a probable global recession.



Insurance Briefs

MDRT plans virtual annual meeting
The MDRT's annual meeting, which attracts more than 10,000 delegates from around the world, will be a virtual event this year.

ANZIIF cancels insurance awards
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has made the decision to cancel the 2020 Australian and New Zealand Insurance Industry Awards.

Partners Life supports rainbow community
Partners Life is again supporting the Rainbow Excellence Awards.

AIA receives Gender Tick accreditation
AIA New Zealand is the first insurer in New Zealand to be awarded the YWCA Gender Tick.

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