FMA bemoans insurers’ complacency to ‘poor value’ credit card products
Few claims paid on about $20m in credit card payment insurance premiums.
The Financial Markets Authority is mulling enforcement action after a review of credit card repayment insurance (CCRI) found both the product to be “poor value” as well as complacency among its providers.
CCRI is an insurance product where a customer pays a premium, depending on the
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