ibe.org.uk
NZ: Insurance company to refund customers after Fair Trading Act breach, NZCC
19 August 2011
19 August 2011
An insurance company has admitted breaching the Fair Trading Act by failing to adequately disclose that an administration fee would be charged for cancelling private vehicle insurance. Protecta Insurance has written to 840 policy holders who were incorrectly charged from January 2007 to March 2011. The company has acknowledged its mistake and will refund approximately $44,471 to those policy holders. It has also changed its policy wording to clarify that an administration fee will be charged for cancellation.
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