CGU says it is investigating an error that meant some Padlock renewal documents displayed an incorrect prior-year base premium and goods and services tax.

The mistake affected renewals available through the PolicyPlace digital platform between February 2 and 19.

CGU says the issue was quickly identified, affected brokers were informed and customers are being issued updated renewal documents.

“We take any matter that could impact our customers or brokers very seriously and are investigating how this occurred and that any impacts are addressed,” a spokesperson told insuranceNEWS.com.au.  

A notice to brokers says the issue affected only how the prior-year premium was displayed on the document. Current-term premiums, commissions and cover were not affected.

“We apologise for any inconvenience this may have caused and thank you for your understanding as we continue to evolve and enhance our technology,” the note says.