Insurer IAG admits fair dealing breaches

(Image: Supplied)

Fri, 04 Apr 2025

The Financial Markets Authority has filed a civil proceeding against IAG New Zealand Ltd for fair dealing breaches in relation to its insurance products.Some home, boat, car and caravan insurance policyholders were affected.IAG said it identified and reported the relevant issues to the Financial Markets Authority (FMA), promptly acknowledged its wrongdoing, and fully co-operated with the investigations.Some of the issues dated back more than 20 years, but the FMA’s claim was limited to the Financial Markets Authority Act,...

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