Fines – (Re)in Asia

Fines

Code committee penalises AIG Australia A$30,000 over delays in addressing customer complaints

June 26 2025

AIG must also undergo an independent audit by the CGC and is required to publish details of the breach on its website.

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ASIC fines Zurich Australia over denial of trauma insurance claims

May 16 2025

The insurer alerted regulator to its claims handling errors after identifying the mistakes during an internal review.

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IAG NZ faces FMA civil action over systemic pricing and discount failures

April 4 2025

The regulator alleges IAG breached fair dealing provisions under the FMCA, resulting in overcharges of around NZ$35m (US$20m).

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First brokerage conviction by Insurance Authority for non-submission of audited financial statements

March 20 2025

The company was fined HK$26,060 (US$3,353) for twice missing set deadlines.

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Supreme Court of NSW fines Allianz, AWP A$16.8m for misleading travel insurance advertising

February 28 2025

The court found both companies misrepresented policy features and coverage levels online between 2016 and 2018.

Aviva India ordered to pay US$7.5m fine: Report

February 15 2025

Authorities allege business paid excess commissions and evaded tax, with insurer denying any wrongdoing.

AA Insurance New Zealand fined NZ$6.175m due to discount failures

October 7 2024

New Zealand's High Court fines insurer NZ$6.175m (US$3.8m) for failing to apply discounts and bonuses, leading to overcharges.

Hong Kong Insurance Authority fines broker and technical representative for policy mishandling

June 24 2024

HK$44,270 fine imposed for failure to manage a client's motor policy with "due care and diligence."

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IRDAI fines Go Digit for failing to disclose share conversion ratio change

May 8 2024

IPO-bound Go Digit is fined 10m rupees (US$120k) for its reporting oversight.

IAG pays AU$37m in worker back-pay due to inadequate systems

April 5 2024

Insurer self-reported non-compliance and pays over AU$21m (US$13.83m) for federal wages and entitlements, while settling AU$16.2m for state and territory long service leave entitlements.

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