Recorded $3.5m fine: ‘Gobbledygook’ found when asking prices

The fine handed down to Cigna in the High Court in Wellington is the largest penalty ever approved by the FMA in an enforcement case. Photo / Ross Setford

A life insurance agent says a recent fine indicates that companies need to improve communication about how premiums are raised.

From the beginning of 2013 until the beginning of 2019, Cigna increased the sales and installation under the benefits index.

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