Business

Axa refunds over €65,000 to customers for no-claims bonus error

French-owned insurer said it identified in February what it called ‘a historical systems-based error that impacted circa 400 motor customers’

An average of €163 has been paid out to affected customers by Axa. Photograph: Noel Bennett/Stock

Joe Brennan
Mon Apr 8 2024 - 14:24

Axa Ireland, the largest motor insurer in the State, has paid a total of about €65,200 in refunds and compensation to hundreds of motor customers who were caught by an error in its no-claims bonus calculations.

The French-owned insurer, which has about 600,000 motor policies, said that it identified in February what it called “a historical systems-based error that impacted circa 400 motor customers”.

It is understood that policyholders in the group were affected as they made changes to their policies, such as changing car or adding another driver to coverage, which resulted in accumulated no-claims bonus benefits being lost as a result of a system glitch.

The company wrote to each of the affected customers in March apologising for the error and confirming that a refund and compensatory payment were being processed, a spokeswoman for Axa said.

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An average of €163 has been paid out to affected customers, she said, adding that the systems error has been resolved. The issue was first reported by the Irish Independent on Monday.

“Axa is fully focused on our customers and take such matters incredibly seriously,” she said. “We are fully committed to resolving any issue impacting our customers – we apologise, fix the issue and replay and compensate the customer as quickly as we can.”

Joe Brennan

Joe Brennan

Joe Brennan is Markets Correspondent of The Irish Times

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