24 Oct 2024

Australian insurance premium increase unwound after complaint

From Morning Report, 8:46 am on 24 October 2024

An Australian insurer has been told to unwind a jaw-dropping 60 percent premium hike after a customer raised a complaint. The Australian Financial Complaints Authority deemed the premium increase unjustified and unfair. In contrast, New Zealand's Insurance and Financial Ombudsman is not able to consider such cases. Consumer NZ insurance specialist Rebecca Styles spoke to Corin Dann.