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11 Dec 2025 17:59
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      Home > News > Business

    Tower Insurance must pay a 7 million dollar penalty for overcharging customers

    Tower Insurance must pay a 7 million dollar penalty for overcharging customers


    It relates to its multi-policy discount, miscalculated for more than 60 thousand clients.

    The Financial Markets Authority says it overcharged by more than 11 million dollars.

    Tower has carried out remediation and repaid the money.

    © 2025 Newstalk ZB, NZCity

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     Top Stories

    RUGBY RUGBY
    All Blacks winger Sevu Reece has unfinished business in New Zealand, despite signing a three year deal to play in France from the end of next year More...

    BUSINESS BUSINESS
    Industry group Energy Resources Aotearoa's touting our energy sector's progress towards net-zero More...


     Today's News

    		 Entertainment:
    King Charles doesn't want his grandchildren to accuse him of failing to help save the planet 17:50

     Business:
    Industry group Energy Resources Aotearoa's touting our energy sector's progress towards net-zero 17:27

     Entertainment:
    Jeff Goldblum has his own Jurassic Park waxwork at home 17:20

     Environment:
    A severe thunderstorm watch has been issued for the eastern North and South Islands - with flash flooding and small tornados possible 17:07

     Law and Order:
    The Herald has revealed Police used 28 motion-activated cameras in Waikato bush as they hunted for fugitive Tom Phillips 16:57

     Entertainment:
    Rebel Wilson is determined to teach her daughter about confidence 16:50

     Entertainment:
    Matthew Perry's doctor Salvador Placencia has been sentenced to 30 months in federal prison over his death 16:20

     Business:
    All Blacks winger Sevu Reece has unfinished business in New Zealand, despite signing a three year deal to play in France from the end of next year 16:17

     Cricket:
    Mitchell Hay continues to harvest runs on debut for New Zealand on Day 2 of the second cricket test against the West Indies in Wellington 16:07

     Auckland:
    Higher speeds lower productivity: what the data shows crash delays really cost Auckland 16:07

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