You’re getting a refund on your cancelled Premiercare insurance

We owe you a refund

We owe you
a refund

Let us know your bank account

Let us know your bank account

We will process your refund

We will process your refund

Hello there,

Your ASB insurance cover was arranged by ASB and underwritten by IAG. This means that IAG managed your policy when you were insured with us, which is why we are contacting you.

Here’s what happened

During a review we found your no claim discount had not been applied correctly on your cancelled Vehicle insurance policy. The error occurred when a claim lodged on your policy did not proceed and your no-claim discount was incorrectly penalised. This meant your insurance premium was higher than it should have been during the policy period(s) outlined in the below table.

We want to reassure you that you are currently receiving the correct no-claim discount and would like to provide you with a refund for the overpaid premiums including interest.

We apologise for any inconvenience this may have caused.

Your refund details

Policy Number	05-8960456-ASB
Impacted Policy Period	9 December 2016 to 2 November 2018
Refund Amount	$402.48
Refund Amount Including Interest	$446.81

What we need from you

We need you to provide a New Zealand bank account for us to make this payment into. Please email the full account name and number to bankpartnerquery@iag.co.nz by 23 May 2023 and we’ll deposit $446.81* within 21 days of receiving your account details.

If you’d prefer to provide this information over the phone, you can call us directly on 0800 200 963 from 9am to 5pm, Monday to Friday. When getting in touch, please use reference 05-087785.

Yours sincerely,

The team at IAG

Things you should know.

ASB insurance is underwritten by IAG New Zealand Limited (IAG) and is not an obligation of ASB Bank Limited (ASB). ASB does not guarantee the obligations of ASB. ASB arranges insurance as an agent for IAG and receives a commission on any policies arranged through it.

*Calculated using the average 90-day bank bill rate published by RBNZ over the period between the error or overpayment occurring and the refundable amount being calculated. This interest rate is applied up to the date of the expected pay out. Simple interest applies. Your refund includes GST. If you are unsure how to treat this payment for tax purposes, you may wish to seek independent advice.

GST Number: 051-860-403

Committed to treating you fairly

We adhere to the Fair Insurance Code, giving you peace of mind that we’re focussed on what’s best for our customers.

Very strong financial strength rating

We’ve got an AA- financial strength rating, which is your reassurance we’ve got a “very strong” claims paying ability and will be there for you should you need us.