News
Insurer to refund $5.3m after admitting overcharging customers
5+ hour, 18+ min ago (574+ words) FMG Insurance has admitted to fair dealing breaches over several years. FMG Insurance and Farmers" Mutual Group (together, FMG) has admitted to making misleading representations about certain insurance products to thousands of customers. An investigation by the Financial Markets Authority…...
Mary Holm: How much insurance do you really need? What every household should weigh up
4+ week, 2+ day ago (1655+ words) While Mary Holm is enjoying a break over summer we will be running some excerpts from her latest revised book Rich Enough? A Laid-back Guide for Every Kiwi. Insurance. Sigh! It sounds so boring. But I promise to make it…...
Rotorua’s QE Health: Commerce Commission declines to investigate complaint about Health NZ
1+ mon, 1+ week ago (631+ words) The Commerce Commission has declined to investigate a "monopoly bullying" complaint made by liquidated health and wellness centre QE Health in Rotorua. QE Health's former interim chief executive Craig Wilson submitted a complaint against Health New Zealand Te Whatu Ora…...
IAG fined $19.5m for misleading insurance pricing breaches
4+ mon, 3+ day ago (533+ words) Insurance company IAG New Zealand has been fined $19.5 million in the Auckland High Court after admitting breaches of the Financial Markets Conduct Act (FMCA). IAG admitted making false and/or misleading representations in relation to its insurance products between September…...
Tax break? Govt urged to make it cheaper for employers to provide health insurance
6+ mon, 3+ week ago (575+ words) Health and life insurers are calling for a tax break to make it cheaper for employers to pay for their employees" insurance cover. The Financial Services Council, which represents the industry, wants the Government to exempt life and health insurance…...