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Our Pricing Promise Review

AIG Pricing Promise remediation program has now closed.

Update 19 June 2026

 

AIG’s Pricing Promise remediation program has now closed.

 

We have completed contacting all affected customers for whom we have sufficient contact details.

All remaining refunds are in the process of being lodged with the Inland Revenue Department’s (IRD) Unclaimed Money scheme, if we have sufficient information to do so. You will need to apply to the IRD to obtain your refund and we expect this to be available from 20 August 2026.

Where we do not have sufficient information to lodge your refund with the IRD, we will donate your refund to charity. If your refund is donated, you still remain eligible to claim it and can do so by contacting us through our feedback from or by calling us on +64 9 355 3100. 

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, NM Insurance 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 us through our feedback from or by calling us on +64 9 355 3100.

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

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

If you held an affected policy during the period 1 October 2015 to 16 July 2020, and are entitled to a refund, we have attempted to contact you by letter, email and/or phone where we have sufficient information to do so.

Where we do not have sufficient information to lodge your refund with the IRD, we will donate your refund to charity. If your refund is donated, you still remain eligible to claim it and can do so by contacting us through our feedback from or by calling us on +64 9 355 3100.

No. These discount schemes have been discontinued.

AIG’s Pricing Promise remediation program has now closed.

We have completed contacting all affected customers for whom we have sufficient contact details.

Where we have obtained your banking details through this process, your refund will be provided via Electronic Funds Transfer (EFT).

Where we do not have your banking details, refunds will either be:

  • Lodged with the Inland Revenue Department’s (IRD) Unclaimed Money scheme, if we have sufficient information to do so. You will need to apply to the IRD to obtain your refund and we expect this to be available from 20 August 2026; or
  • Donated to charity, where we do not have sufficient information to lodge your refund with the IRD. If your refund is donated, you still remain eligible to claim it and can do so by contacting us through our feedback from or by calling us on +64 9 355 3100.  

If you have not provided bank details, your refund will be either lodged with the Inland Revenue Department (IRD) Unclaimed Money scheme (where we have sufficient information to do so) or donated to charity.   

You will need to apply to the IRD to obtain your refund. In line with the IRD’s processes, we expect this to be available from late August. Where your refund has been donated to charity, you are able to obtain your refund by contacting us.

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.

AIG’s Pricing Promise remediation program has now closed and we have completed contacting all affected customers for whom we have sufficient contact details.

Any correspondence received from us will always direct you to this website.

If you’re unsure whether a communication is from us, please contact us through our feedback from or by calling us on +64 9 355 3100.

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.

AIG requires your bank details in order to pay your refund. 

If you have not provided bank details, your refund will be either lodged with the Inland Revenue Department (IRD) Unclaimed Money scheme (where we have sufficient information to do so) or donated to charity.   

You will need to apply to the IRD to obtain your refund. In line with the IRD’s processes, we expect this to be available from late August. Where your refund has been donated to charity, you are able to obtain your refund by contacting us.

AIG’s Pricing Promise remediation program has now closed. We have completed contacting all affected customers for whom we have sufficient contact details.

All remaining refunds are in the process of being lodged with the Inland Revenue Department’s (IRD) Unclaimed Money scheme, if we have sufficient information to do so. You will need to apply to the IRD to obtain your refund and we expect this to be available from 20 August 2026.

Where we do not have sufficient information to lodge your refund with the IRD, we will donate your refund to charity. If your refund is donated, you still remain eligible to claim it and can do so by contacting us through our feedback from or by calling us on +64 9 355 3100.

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

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

Contact us

Please contact us through our feedback from or by calling us on +64 9 355 3100.

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. AIG’s Pricing Promise remediation program has now closed. We have completed contacting all affected customers for whom we have sufficient contact details. 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 through our feedback from or by calling us on +64 9 355 3100. You can also find details for reporting a suspected scam at Netsafe.org.nz.

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