FANZ: all life insurance contracts should be consumer contracts
Finance Advice New Zealand (FANZ) is asking the government to define all life, health and disability policies as consumer contracts.
Appearing before parliament's Finance and Expenditure Committee which is considering the Contracts of Insurance Bill, FANZ chief executive Nick Hakes said there are about 450,000 small businesses in NZ which often require insurance protection for both personal and business reasons.
“The unintended consequence of having a consumer and non-consumer definition in the bill is that...MORE»
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