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Our Pricing Promise Review

We are issuing refunds to eligible policyholders.

Refund Form

We’ve recently completed a pricing promise review

This has identified some discrepancies between the information provided to certain customers, and the way their insurance premium was calculated.  For this, we’re very sorry and we’re providing refunds to affected customers. 

What will happen next?

We will be in touch with affected customers over the coming months.  If you held an affected policy during the period 1 October 2015 to 16 July 2020, we will let you know.

Our communication will contain your Refund ID and will direct you to our secure Refund Form website page, where you can verify your contact details and supply your preferred bank details for an EFT (Electronic Funds Transfer) refund.

Complete our Refund Form

If you have been contacted about a refund due to you, you will be asked to provide your payment details through our secure Refund Form. This secure online process will take a few minutes to complete.

Before you start, you will need your Refund ID. We will also ask you a series of simple security questions to verify your identity.

Refund Form

Pricing Promise FAQs

American International Group, Inc. (AIG) provides property casualty insurance, personal lines insurance, business travel and accident solutions, and other financial services for individuals and businesses from SMEs to Multinationals. We take pride in delivering an exceptional level of service to those who trust us to help them manage their risks and recover losses when the unexpected occurs.

In New Zealand, we insure the country’s smallest businesses through to our biggest companies, from start-ups to celebrated brands competing on the global stage. We’re part of the foundation that helps them to thrive, safe in the knowledge that we stand ready to support them when they need us most, in all the moments that matter.

With over 50 years’ experience in New Zealand, we’re known for providing high-quality, innovative insurance cover, backed by a fast, responsive claims team. Our strong local team is backed by our global network, giving our customers access to unrivalled knowledge, passion and expertise.

NM Insurance is a general insurance underwriting agency that operates under a number of different brands to issue and administer certain insurance products.  Between 1 October 2015 and 16 July 2020, we issued and administered products under a binding authority from AIG.

We incorrectly calculated discounts for some insurance policies and want to put things right.

For some products, our policy documentation did not accurately describe how our no claims bonus discount scheme operated.

Please contact our Pricing Promise Team at:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

Certain insurance policies issued between 1 October 2015 and 16 July 2020 related to the following brands:

  • All Risks Pleasure Craft Insurance
  • Boat Insurance
  • Private Watercraft (PWC) Insurance
  • Yamaha Marine Insurance
  • Honda Rider Insurance
  • NM Motorcycle Insurance
  • Kawasaki Motorcycle Insurance
  • Yamaha Motorcycle Insurance

We’ll contact you if you have held an affected policy.

If you held an affected policy during the period 1 October 2015 to 16 July 2020, we’ll be in touch in the coming months to let you know and arrange your refund.

To ensure we have accurate contact details, you may be contacted by letter, email and/or phone before refunds are processed.

Any correspondence from us about our pricing promise review will always direct you to this page where you can access our secure Refund Form, enabling you to provide us with information within a secure environment.

No. These discount schemes have been discontinued.

We will be in touch with affected customers over the coming months.

If you held an affected policy during the period 1 October 2015 to 16 July 2020, we’ll let you know.

Our communication will contain your Refund ID and will direct you to this page and our secure Refund Form where you can verify your contact details and supply your preferred bank details for an EFT (Electronic Funds Transfer) refund.

If we request your payment details, please supply them through our secure Refund Form.

We're working through identifying all affected policies. Over the coming months, we will be in touch with current and former customers who are owed a refund. Given the complexity of this process, the entire refund program will take time to complete.

If you have any questions or concerns, please contact our Pricing Promise Team at:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

If you’re entitled to a refund, we will contact you over the coming months. Our communication will contain your Refund ID and will direct you to our secure Refund Form, where you can verify your contact details and supply your preferred bank details for EFT (Electronic Funds Transfer) refund.

If we request your payment details, please supply them through our secure Refund Form.

Please look out for an email, letter or phone call from us. It will contain your Refund ID and will direct you to our secure Refund Form, where you can verify your contact details supply your preferred bank details for an EFT (Electronic Funds Transfer) refund.

If we request your payment details, please supply them through our secure Refund Form.

Our refund communication will direct you to our secure Refund Form. If you don’t want to provide your bank details via this form, you can provide them via our contact centre on +64 7 987 1351.

If you are entitled to a refund, we will make multiple attempts to contact you using the current or last known contact details we have for you.

If you don’t respond to our communications by the time the refund process is finalised we’ll lodge your refund with the NZ Inland Revenue unclaimed money regime. Despite this, you’ll remain eligible to claim it and can do by calling us on the number above. You can find more information on how to obtain a refund through the unclaimed money regime on the Inland Revenue website.

Our final communication to you will remind you of this and tell you when we intend to do this.  

We’ll either lodge your refund with the NZ Inland Revenue unclaimed money regime, or pay it to a registered charity. Despite this, you’ll remain eligible to claim it.

We will use known contact details for your policy to communicate in relation to your refund.  Where these details relate to your insurance broker, we will request that your broker either provide us with your updated contact details or provide you with the refund request.  This communication will contain a Refund ID and direct you to this page and our secure Refund Form. 

Any correspondence from us will always direct you to our secure Refund Form. If you’re unsure whether a communication is from us, please do not provide your bank account details or click on any links or attachments. Instead, contact our Pricing Promise Team at:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

Your refund includes the premium we owe to you plus associated government charges and levies, along with any fees and charges impacted (such as a funding fee for the purchase of your insurance).

Your refund also includes interest calculated based on the Reserve Bank of New Zealand cash rate, compounded monthly over the period of the error and until 31 March 2026.

We’ll let you know if you’re entitled to a refund. Our communication will contain a Refund ID and will direct you to this page and our secure Refund Form where you can verify your contact details and supply your preferred bank details for EFT (Electronic Funds Transfer) refund.

If we request your payment details, please supply them through our secure Refund Form.

If you’d prefer to provide your payment details by telephone, please contact our Pricing Promise Team at:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

If you held a policy with us and your postal address, email address or telephone number has changed since you purchased or last held the policy, please contact our Pricing Promise Team to update your details:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

If you need extra support, please contact our Pricing Promise Team at:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

If you’re entitled to a refund, we will make reasonable endeavours to contact you via phone, email, or letter (where we have your details).

If you purchased a policy through a professional insurance broker, we'll first attempt to contact the broker, and if that fails, we’ll attempt to contact you using any direct contact details we have for you.

If after an extended period of time we cannot contact you, we’ll lodge your refund with the NZ Inland Revenue unclaimed money regime. Despite this, you’ll remain eligible to claim it and can do by calling us on the number above. You can information on how to obtain a refund through the unclaimed money regime on the Inland Revenue website.

You can information on how to obtain a refund through the unclaimed money regime on the Inland Revenue website.    

If you believe you are entitled to a refund and your contact details have changed, please contact our Pricing Promise Team to update your details:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

If you have or had more than one affected policy, we will contact you about all of them.

We’re committed to meeting and exceeding our customers’ expectations whenever possible and would like to know if they haven’t been met.  You can make a complaint about any aspect of our pricing promises review or refund process. For information about our Complaints and Dispute Resolution process, please visit this page.

If we cannot resolve your complaint to your satisfaction through our internal dispute resolution process within 2 months of when you first lodged it with us, we will explain our reasons to you in writing and provide you with a ‘deadlock’ letter so that you can take your complaint to Financial Services Complaints Limited (FSCL), our independent external disputes resolution scheme.

FSCL is a free and independent body approved by the Ministry of Consumer Affairs. AIG New Zealand will comply with any decision made by FSCL. Contact details for FSCL are:

Financial Services Complaints Limited
PO Box 5967
Wellington, 6101

www.fscl.org.nz

T: 0800 347 257
E: info@fscl.org.nz

We're working through identifying all affected policies and will be in touch impacted customers who are owed a refund in the coming months. Given the complexity of this process, the entire refund program will take some time to complete.

If you’re entitled to a refund, our communication will direct you to this page and our secure Refund Form. EFT (Electronic Funds Transfer) payments, will be automatically processed and deposited into your account within 15 business days of providing your banking details.

Yes. Details provided through our Refund Form are held securely. We will never ask you for personal or financial information through an email or text message.

Contact us

We’ll get in touch in the coming months if you’re due a refund.

In the meantime, our Pricing Promise Team is here to help and can be contacted on:

Telephone-icon +64 7 987 1351

Email-icon refunds@aignz.email.connect.aws

Website – anti scam

The AIG Pricing Promise Program is not a scam. If you are concerned about providing your details to the  Program, you can verify that this is a genuine process and obtain further information about the Program by checking to see if you have received communications from AIG via email which explain the  Program and why you are being contacted or you can visit aig.co.nz/nmpricingpromise for more information.

AIG has engaged with Deloitte to help make refund payments to our affected customers. AIG has a dedicated Call Centre for facilitating refunds to affected customers. We are aware of service providers who claim they can assist you in completing your refund for a fee (or a portion of the money to which you are entitled, if any). Deloitte is not one of these service providers; This site is the official channel for you to complete your details to enable your refund to be paid. You do not need to engage a service provider to complete your response.  We have a dedicated support team who can answer your questions about the refund process.

We know that scammers may impersonate genuine organisations and may attempt to collect personal and/or confidential data. We will only call you from our dedicated contact number (+64 7 987 1351) and if you have asked us to contact you, we may ask you to confirm your name, contact information and Refund ID which is provided on communications that we have sent to you via email, SMS or letter.

If you believe you have received a message or call that is a scam, do not respond to it and please advise us by sending a message to us at refunds@aignz.email.connect.aws. You can also find details for reporting a suspected scam at Netsafe.org.nz.

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