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Law
4 mins to read

Cigna admits over-charging customers via inflation adjustments

Life insurance provider self-reported 'indexation' issue to FMA.

Cigna self-reported the issue to the Financial Markets Authority in early 2019.

NBR Staff Wed, 10 Aug 2022

Cigna Life Insurance New Zealand has admitted to making false and/or misleading representations to customers over inflation increases to premiums and cover in respect of 52,363 policies.  

The Financial Markets Authority (FMA) released a statement today saying that Cigna self-reported the issue in

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NBR Staff Wed, 10 Aug 2022
Contact the Writer: editor@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Tags
FMA Financial Markets Authority (FMA) Cigna Insurance Chubb Financial Markets Conduct Act misleading conduct Insurance life insurance (2643
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