NRMA fined for overcharging NSW drivers $12m on car insurance
NRMA Insurance was fined $479,500 for overcharging about 41,564 NSW car insurance customers. The total overcharges were about $12.17 million.
The regulator SIRA gave NRMA Insurance eight penalties. The company made errors calculating charges for compulsory third-party (CTP) car insurance, also called a green slip.
An address-data error made the company use wrong pricing zones for policies. The address-data error charged customers more than they should have paid.
About 41,564 customers were affected. Their total overcharges came to about $12.17 million.
Other mistakes included not giving discounts and not paying back enough. NRMA is refunding all affected customers.
The company blamed the errors on switching to a new computer system and said the new system will prevent similar problems.
- $479,500
- Fine imposed
- 41,564
- Customers affected
- $12.17 million
- Total overcharges
- $118,421
- Cancellation refund underpayment
Why it mattersIf you have NRMA car insurance in NSW, you may be owed a refund. The regulator found serious problems in how the company handled pricing and customer data.
AustraliaNSW drivers with NRMA policies should check if they were overcharged and claim their refund. The company is contacting affected customers to refund overcharges plus interest.
✓ Claims checked against the source. checked 3 h ago
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