Insurance companies may face action for putting their own interests ahead of their clients'
Insurance companies may face action for putting their own interests ahead of their clients'
19 July 2018
The Financial Markets Authority thinks customer welfare is being threatened by companies not telling consumers the risks or costs involved when renewing or changing policies.
It believes thousands of people could be out of pocket by millions of dollars.
Financial Markets Authority director of regulation Liam Mason says all 11 companies they looked at had room for improvement.
He says there could be action but the companies are being responsive.
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