Insurance
FMA lands its biggest ever penalty

Tuesday 17th of January 2023
In August, Cigna admitted to breaching the Fair Dealing provisions of the Financial Markets Conduct Act, following proceedings brought by the Financial Markets Authority.
The case relates to Cigna’s communication of, and charging for, inflation benefits (known as “indexation”) to customers holding 52,363 policies between 1 April 2014 (when the FMC Act came into force)...
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