NRMA to repay 41,564 NSW motorists after insurance overcharges
NRMA Insurance will refund about $12.17 million to motorists who were overcharged for compulsory third-party car insurance in New South Wales. The regulator said errors in the insurer’s risk-rating system led to incorrect premiums, raising concerns about pricing controls and fairness in the scheme.
An estimated 41,564 policyholders were affected. The State Insurance Regulatory Authority imposed eight civil penalties totalling $479,500 after identifying several problems, including inaccurate driver tenure details, missing cancellation refunds, inconsistent levy charges and discounts not applied. NRMA said an outdated system failed to update some policies after customers changed address, and that it is making repayments with interest while moving to a new technology platform.
In short
- NRMA will repay about $12.17 million to affected motorists.
- Around 41,564 policyholders were overcharged.
- The regulator imposed eight penalties totalling $479,500.
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Originally published by Daily Mail as “Thousands of Aussie motorists told to expect cash refunds after $12million car insurance blunder”.