Tower to discontinue multi-policy discounts

Tower Limited (NZX/ASX:TWR) today announced it will remove the multi-policy discount from its insurance offerings.

Tower Chief Executive Paul Johnston said Tower remains committed to providing fair, transparent, and competitive pricing and will continue to review its pricing to deliver value to customers. Tower has made significant investments to upgrade its systems and processes, with the aim of ensuring all eligible customers receive their appropriate multi-policy discount.

Despite these efforts and the substantial improvements made, the complexity of factors involved in accurately assessing the multi-policy discount means there is still a risk of error. This level of risk falls short of the high standards Tower has set for delivering excellent customer experiences, and is unacceptable for meeting regulatory requirements.

Therefore, Tower has decided to discontinue the discount.

Ends

•  Tower to discontinue multi-policy discounts

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Pacific Edge launches capital raise of NZ$24 million
SML - Resignation of Synlait Director
FBU - Sale of Laminex Cheltenham property
CVT - Comvita Achieves Minimum Capital Raise Requirement
Devon Funds Morning Note - 04 May 2026
MEL - Meridian joins global ranks of sustainable companies
May 5th Morning Report
ATM - a2MC recalls small volume of a2 Platinum USA label
CEN - Contact Chair to retire this year, new Chair appointed
May 1st Morning Report