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IAG hit with discounting class action in latest legal headache

Liam WalshReporter

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Key Points

  • Slater & Gordon have filed a lawsuit about discounts against IAG.
  • The brands involved include SGIO and IAG’s joint venture with RACV.
  • IAG says it will defend this lawsuit, similar to ASIC action last year.

A class action lawsuit alleging that IAG secretly slugged loyal customers with higher prices via a pricing algorithm is the latest legal headache for the insurance giant.

Slater & Gordon this week filed the lawsuit in Victoria’s Supreme Court accusing businesses within IAG, whose brands include SGIO, of engaging in unfair tactics and misleading conduct in selling home insurance policies.

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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/iag-cops-discounting-class-action-in-latest-legal-headache-20240528-p5jhcx