IAG Class Action for Discount Fail
IAG faces class action over loyalty discount failures in Victoria, WA, and SA; already fined $40m and sued by ASIC, with $60m in customer remediations.
June 5, 2024
IAG Class Action Lawsuit Overview
Insurance Australia Group (IAG), parent company of prominent brands such as The NRMA, RACV, SGIO, and SGIC, is facing a class action lawsuit from Slater and Gordon Lawyers. The lawsuit alleges that IAG failed to provide loyalty discounts to customers in Victoria, Western Australia, and South Australia over the period from 2018 to 2024.
In response to the accusations of discounting failures, IAG has already remediated customers with a total of $60 million. Furthermore, the company was previously fined $40 million for pricing irregularities at NRMA in June of the preceding year. Additionally, the Australian Securities and Investments Commission (ASIC) is pursuing legal action against IAG brands including SGIO, SGIC, and RACV for similar issues.
Loyalty Central Information
Loyalty Central, a division of Ellipsis & Company, specializes in loyalty programs. More details about their services and expertise can be found on their website.
You can also subscribe to Loyalty Central's monthly newsletter for updates on the loyalty market. This newsletter delivers a concise summary of all relevant news, including recent developments in lawsuits like that involving IAG. Sign up at Loyalty Central's subscription page.
