Tower to join competitors in removing multi-policy discounts
The listed insurer says it can’t guarantee 100% compliance despite system and process upgrades.
Tower plans to discontinue the multi-policy incentives before the end of this calendar year.
Tower is the latest insurer to drop multi-policy discounts, after the sector came under scrutiny from the Financial Markets Authority for breaches of the law.
In March last year, the FMA filed civil proceedings against Tower for failing to apply multi-policy discounts to customers’ premiums,
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