Responsible insurance-sale call repeated

Original article by Shaun Drummond
The Australian Financial Review – Page: 19 : 2-Mar-15

Financial system inquiry member Craig Dunn says Australia should not follow the European Union by introducing an individual appropriateness test for the insurance industry. He argues that such a test would result in significant costs for the industry. He says the inquiry instead favours an increased obligation on the part of product issuers and distributors to act responsibly when selling insurance products

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AMP LIMITED – ASX AMP, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FINANCIAL SERVICES COUNCIL, GREAT BRITAIN. FINANCIAL CONDUCT AUTHORITY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CLYDESDALE BANK PLC, INSURANCE COUNCIL OF AUSTRALIA LIMITED

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