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FMG Insurance to pay $2.1M penalty and $5.3M in refunds for misleading customers on charges from 2012–2024.
FMG Insurance has agreed to pay a $2.1 million penalty after admitting to misleading customers about insurance charges and policy adjustments between 2012 and 2024.
The Financial Markets Authority found FMG falsely claimed inflation-based premium increases and double-charged for items already covered, affecting thousands of customers.
The company will repay $5.3 million in refunds and claim top-ups, with all affected clients notified and payments expected by March 2026.
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FMG Insurance pagará una multa de $2.1M y $5.3M en reembolsos por clientes engañosos por cargos desde 20122024.