Insurer FMG has agreed to pay 2.1 million dollars in lieu of a fine - for misleading statements about insurance products to tens of thousands of customers
Insurer FMG has agreed to pay 2.1 million dollars in lieu of a fine - for misleading statements about insurance products to tens of thousands of customers
9 February 2026
The company self-reported the issues, and an Financial Markets Authority investigation found customers were being charged for specific items providing no extra insurance benefit.
It also uncovered incorrect inflation adjustments applied to sums insured.
The company has paid 5.3 million dollars remediation to customers.
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