Civil Defence Minister Kris Faafoi making the announcement. Photo: RNZ / Rebekah Parsons-King
The Government is promising to crackdown on life insurance companies with tougher regulations, after a review of the sector. The Financial Markets Authority and the Reserve Bank have accused some insurers of putting profits ahead of people, charging customers for expired policies and selling schemes to people who were ineligible for cover. Now, the government is planning to fast-track consumer protection measures. Commerce and Consumer Affairs Minister, Kris Faafoi, speaks to Susie Ferguson.
