Cigna admits over-charging customers via inflation adjustments
Life insurance provider self-reported 'indexation' issue to FMA.
Cigna self-reported the issue to the Financial Markets Authority in early 2019.
Cigna Life Insurance New Zealand has admitted to making false and/or misleading representations to customers over inflation increases to premiums and cover in respect of 52,363 policies.
The Financial Markets Authority (FMA) released a statement today saying that Cigna self-reported the issue in
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