Stop Generali selling products without full disclosure
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When I working in the Middle East I purchased a hybrid investment/insurance plan Vision from Generali. The product was purchased via broker Nexus Financial Services. I did not receive the disclosure of the product comparable with OECD good industry practice for disclosure. In result if I terminate the product I will lose ~30,000 United States Dollar. If I will keep the product, most likely I will end up with bigger losses. Generali does not ensure that their brokers follow the good industry practices as well as do not check whether broker acted diligently and in the interest of the customers and level of disclosure they provide. More over the product is desgined in a way that broker has a financial incentive to misrepresent the product and not act in the interest of the customers: such as huge amount of fees are deducted in the first 2 years of the plan and broker get commission straight away. Please stop Generali from selling products where disclosure is not done with the good industry practice in OECD countries, set up compliance requirements on ethics of Generali and their agents.
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