Insurance
AIA fined $700,000 for misleading customers

Friday 30th of September 2022
The insurer last year admitted three causes of action brought under the Financial Markets Conduct Act 2013 after the Financial Markets Authority (FMA) filed proceedings, seeking declarations from the High Court and a financial penalty. A penalty hearing took place in February.
The issues included:
- passback benefits, where AIA wrongly told certain customer...
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