APRA concerned about direct life sales
Nov 22, 2012 (Money Management - ABIX via COMTEX) --
The Australian Prudential Regulation Authority (APRA) is worried about the growth in direct marketing of life insurance. APRA's annual report notes life insurance products are being directly promoted to consumers via TV and internet marketing, and through call centres. APRA noted that the cost of some of the products being sold in such a fashion is quite expensive, and that the growth in such products could harm the overall profitability of the life insurance sector.
Publication Date: 22 November 2012
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
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