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29 Mar 2024 21:25
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  •   Home > News > Business

    Cigna Life Insurance has admitted misleading customers by increasing life insurance cover more than required to cover inflation

    Cigna Life Insurance has admitted misleading customers by increasing life insurance cover more than required to cover inflation

    10 August 2022
    The admission is part of proceedings brought by the Financial Markets Authority, in the High Court at Wellington.

    It's alleged Cigna breached Fair Dealing provisions of the Financial Markets Conduct Act 2013.

    The claim involves more than 52-thousand policies, but FMA says the issue began in early 2013 when Cigna changed its indexation rates.

    Cigna has repaid more than 10.7 million dollars' additional premiums to customers through its remediation programme.

    © 2024 Newstalk ZB, NZCity


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    New Zealand Food Safety is supporting Matakana Smokehouse in its recall of a specific batch of two of its salmon products because of the possible presence of Listeria More...



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