Insurance, funds and super (93 items)

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FSU hustles for ban on credit insurance incentives

The Finance Sector Union has called on the Australian Securities and Investments Commission to impose a blanket ban on volume-based reward payments to bank staff for selling credit insurance policies to customers.Banks are moving to reform incentive pay models to reduce conflicts of interest between staff and customers.Maybe the easiest cross-sell of all, reform around consumer credit insurance is on a go slow.Banks and ASIC have worked out a deferred-sales model and new protocols, as if the Sedgwick Review was fading from sight. read more

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