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Youi fined $320,000 over misleading sales

NZ Newswire logoNZ Newswire 15/12/2016

<span style="font-size:13px;">Insurance company Youi has been fined $320,000 for misleading sales techniques, after agreeing to plead guilty to 15 charges in the Auckland District Court.</span> © Getty Insurance company Youi has been fined $320,000 for misleading sales techniques, after agreeing to plead guilty to 15 charges in the Auckland District Court. Insurance company Youi has been fined $320,000 for 'misleading sales techniques'.

The Commerce Commission investigated claims against Youi made between July 2014 and February 2016.

On Thursday they were fined in the Auckland District Court for "employing misleading sales techniques when attempting to sell policies to consumers who were seeking a quote."

Youi pleaded guilty to the accusations that consumers would be able to get a quote, when the majority of them actually received unexpected phone calls from Youi salespeople wishing to wrap up a sale.

During the sales process some customers were told that their bank or credit card details were needed to get a quote when this was not the case.

They were also fined $100,000 in October by Insurance Council of New Zealand for making misleading statements to customers, and debiting their bank accounts without permission.

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