Besieged wealth group ClearView is pursuing measures including a partnership model with financial advisers, to reduce governance and compliance risks, after its heavy-handed direct insurance sales practices raised the ire of customers and regulators.
ClearView's chief actuary and risk officer Gregory Martin was in the Hayne royal commission hot seat this week and eventually admitted to more than 300,000 breaches of anti-hawking laws and selling lower quality life insurance policies to poor people.