Listed insurer ClearView Wealth has written to a parliamentary joint committee claiming that insurance companies pay millions of dollars a year in shelf-space fees to appear on product lists.
In a letter to the joint parliamentary committee on corporations and financial services, ClearView chief executive Simon Swanson estimated that insurers paid between $10 million and $15 million a year to be placed on lists from which financial advisers select products for clients.
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Sally Patten edits BOSS, and writes about workplace issues. She was the financial services editor and personal finance editor of the AFR, The Age and the Sydney Morning Herald. She edited business news for The Times of London. Connect with Sally on Twitter. Email Sally at spatten@afr.com
