Tower (NZE:TWR, ASX:TWR) is removing its multi-policy discount, citing concerns over compliance risks and a commitment to maintaining high customer service and regulatory standards, according to a Wednesday filing with the New Zealand and Australian bourses.
Chief Executive Paul Johnston stated that while the insurer remains committed to fair and competitive pricing, and is upgrading systems to ensure eligible customers receive multi-policy discounts, the complexity of calculating these discounts still presents a risk of error, the filing added.
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