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AAP
AAP
Fraser Barton

Hefty fine for RACQ after misleading discounts

RACQ the Federal Court ASIC Sarah Court Insurance
The Federal Court has found RACQ failed to pass on discounts to thousands of customers. (Glenn Hunt/AAP PHOTOS)

Insurer RACQ will pay a $10 million fine for potentially misleading customers about pricing discounts on certain types of insurance cover, following a decision by the Federal Court.

The court found RACQ sent out misleading product disclosure statements on at least five million occasions between March 2017 and March 2022.

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