Original article by Michael Roddan, Elizabeth Redman
The Australian – Page: 2 : 11-Sep-18
The banking royal commission commenced its investigation into the life insurance sector on 10 September. Senior counsel assisting the commission, Rowena Orr QC noted the industry had paid $6 billion worth of commissions to financial planners over the five years to 2017, suggesting this was a key factor behind the sector’s unethical behaviour. ClearView chief risk officer Greg Martin admitted to the commission that it had breached anti-hawking laws more than 300,000 times, and that it had a "full on sales" culture.
AUSTRALIA. JOINT COMMITTEE OF PUBLIC ACCOUNTS AND AUDIT, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CLEARVIEW WEALTH LIMITED – ASX CVW