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IAG Faces Unprecedented Penalties for Serious Fair-Dealing Violations

10/6/2025

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Summary

Story summary

IAG, New Zealand's largest insurer, faces penalties for serious contraventions, per FMA executive director Louise Unger.
The FMA calls the case unprecedented in scale for fair-dealing.
Justice Andrew stressed the severity of IAG's failures and timely reporting to the FMA.
IAG's CEO Amanda Whiting stated the company is committed to preventing future issues and has issued refunds to affected customers.

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Story summary

IAG, New Zealand's largest insurer, faces penalties for serious contraventions, per FMA executive director Louise Unger.
The FMA calls the case unprecedented in scale for fair-dealing.
Justice Andrew stressed the severity of IAG's failures and timely reporting to the FMA.
IAG's CEO Amanda Whiting stated the company is committed to preventing future issues and has issued refunds to affected customers.