FCA warns brokers over Pacific Blu
The Financial Conduct Authority (FCA) has told insurance brokers to withdraw sales of Pacific Blu’s policies immediately.
The warning came as the FCA highlighted that Pacific Blu is the named insurer on the My Home policy documentation.
The regulator said that it had received confirmation from the relevant New Zealand regulatory bodies that Pacific Blu is not licensed as an insurer or as a financial services provider in New Zealand.
The watchdog added that the My Home policy documentation also claims that Pacific Blu is a participant in the dispute resolution scheme provided by New Zealand Financial Services
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