Hello

This is the last Cover Notes newsletter for 2009 as the year wraps up, so we wish you all a Merry Christmas and hope you have an invigorating holiday ready for the busy year ahead.

In the final week of Cover Notes news:
"Don't ban commissions!"

Is the stance the Institute of Financial Advisers (IFA) has finally made after analysing the Code Committee's discussion paper on Ethical Behaviour and Client Care. We look into the many concerns the IFA has about the paper.

We also talk to financial advisers about whether they would prefer NAB or AMP to take over AXA, asking what effects a take over would have on business.

In other news Fidelity Life's new Platinum Plus product is analysed and in the news round-up Sovereign launches a regulation website and AMP considers its position on AXA.

Russell Hutchinson also looks at problems with cases of non-disclosure after Karen Stevens, the Insurance Ombudsman argued for a law change to the effect that "what would a reasonable person understand an insurer would want to know?"

Insurance News

Don't ban commissions: IFA
The Institute of Financial Advisers has hit out at that Code Committee's discussion paper on Ethical Behaviour and Client Care saying parts of it are unhelpful and banning commissions won't work. More

AXA advisers prefer NAB
Opinions within the financial industry point to a preference of National Australia Bank (NAB) taking over AXA rather than AMP. More

The verdict on Fidelity Life's new Platinum Plus
Jenha White explains the changes to Fidelity Life's new range of life insurance products and finds out what one researcher has to say about the changes. More

News Round Up
Sovereign launches regulation website; AMP considering its position on AXA; NZ sharemarket gains over: Pure Capital. More

Russell Hutchinson

Opinion: They've been misled, so they mislead you
Cases of non-disclosure which initially sound breathtaking are often genuinely innocent - because clients have been told "you don't have a problem" by health professionals, and therefore don't think they need to tell you. A proposed law change probably won't help much. More