September 12, 2016 BY Valentina Kirilova

ASIC puts insurers on notice to address serious failures in the sale of add-on insurance through car dealers

ASIC has reviewed the sale of add-on general insurance policies through car dealers and found that the market is failing consumers. ASIC's report finds that consumers are being sold expensive, poor value products; products that provide consumers very little to no benefit; and a sales environment with pressure selling, very high commissions and conflicts of interest.…

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