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Found 1229 results. Displaying page 6 of 82

  3. 14 June 2022

    OnePath and Cigna admit to fair dealing breaches for credit card repayment insurance

    OnePath Life (NZ) Limited and Cigna Life Insurance New Zealand Limited will jointly pay $180,000 to the FMA after admitting liability for breaching the fair dealing provisions of the Financial Markets Conduct Act 2013 (FMCA).
    Tags
    Insurance Providers, Fair dealing, Media release, Business, News & Insights
    Type
    Page

  4. 11 March 2021

    ANZ ordered to pay $280,000 penalty for misleading representations over credit card insurance charges

    The Auckland High Court has ordered ANZ New Zealand (ANZ) to pay a $280,000 civil penalty for breaching the Financial Markets Conduct Act 2013 (FMCA) by making misleading representations in the supply of credit card repayment insurance (CCRI) to 307 of its customers.
    Tags
    Cases, Fair dealing, FMC Act, Legislation, Media release, Business, News & Insights, Enforcement
    Type
    Page

  8. 4 October 2022

    Imposter website: api-insurance-ltd.co

    api-insurance-ltd is not registered to provide financial services to New Zealand residents.
    Tags
    Imposter website, Unregistered business, Scams
    Type
    Page

  11. 22 March 2018

    FMA publishes review of adviser conduct in life insurance

    The FMA has issued warnings to four registered financial advisers in relation to providing advice on replacement insurance policies, for breaches of the obligation in section 33 of the Financial Advisers Act 2008 to exercise care, diligence and skill.
    Tags
    Media release, Conduct, Business, News & Insights
    Type
    Page

  13. 23 September 2021

    Review of credit card repayment insurance products

    The FMA has conducted a review of credit card repayment insurance products to gain a better understanding of providers’ practices, and the product’s suitability for consumers. We advise anyone who has purchased this sort of insurance to read the report.
    Tags
    Financial Advice Provider, Roles, Reports and Papers, Banking, Insurance Providers, Financial Institutions, Business, News & Insights
    Type
    Page

  14. 2 July 2018

    QFE insurance providers’ replacement business practices

    This thematic review published in July 2018 focuses on QFE insurance providers’ replacement business practices and assesses how their policies and procedures are designed to ensure consumer protection at the point of policy replacement.
    Tags
    Reports and Papers, Insurance Providers, Business, News & Insights
    Type
    PDF

  15. 21 September 2021

    Review of credit card repayment insurance products

    In our 2019 Life Insurer Conduct and Culture review, we found that “certain products often provided poor value, and consequently poor outcomes for customers, because of limited benefits, and misunderstanding of coverage and eligibility”.
    We carried out this additional review to gain a better understanding of the suitability of CCRI for consumers.
    While most providers have withdrawn CCRI products from sale, there are still several hundred thousand existing policies, whose holders may not need or understand the product and are at risk of experiencing poor outcomes if they need to make a claim.
    Tags
    Roles, Financial Institutions, Business
    Type
    PDF, Report