Coast company Youi admits to dodgy sales practices

SUNSHINE Coast-based insurer Youi has admitted to dodgy sales practices, apologising to affected customers and providing refunds.

The Courier Mail reports that Youi's admission comes after copping similar breaches in New Zealand.

The company, owned by South Africa's Outsurance, argued the number of customers affected was minor, with the amount being just 0.2 per cent of sales.

Youi pleaded guilty to offences in New Zealand and has been fined $NZ100,000 by the Insurance Council of New Zealand.

It has been under investigation by the Australian Securities and Investments Commission.

Outsurances accounts highlighted that NZ staff had signed up customers to policies without their consent, and that Youi Australia "has experienced similar sale breaches as the two businesses share common call centre infrastructure", The Courier Mail reports.



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