IAG Fined $19.5m for Misleading Insurance Pricing Breaches

Record $19.5m penalty for IAG

PHOTO: RNZ New Zealand's biggest insurance company, IAG, has been penalised $19.5 million for overcharging nearly 250,000 customers tens of millions of dollars by not giving them promised discounts and benefits.

IAG hit with record $19.5m penalty for misleading customers

IAG admitted overcharging 239,000 customers $35m Company failed to apply multi-policy discounts through NZI, State, AMI sales and some major banks IAG self reported, apologised and paid back affected...

IAG fined $19.5m for misleading insurance pricing breaches

Insurance company IAG New Zealand has been fined $19.5 million in the Auckland High Court after admitting breaches of the Financial Markets Conduct Act...

IAG NZ to pay $19.5m penalty for overcharging 269,000 customers $35m

IAG NZ paying $19.5 million penalty after self reporting Financial Markets Conduct Act breaches the FMA says are the worst in any fair dealing case it has taken to court to date