ING Insurance and ING Novex announced today that they are reimbursing approximately 51,000 policyholders as a result of an error that prevented some of its Ontario customers from receiving their Claims Free Renewal (CFR) discount to which they were entitled. This is a discount the company rewards its customers at renewal after being claims free for five consecutive years.

As most of ING’s customers properly received their CFR discount, only a very small percentage of its customer base was affected by the problem. The omission of the discount occurred as a result a combination of system and processing errors.

“We sincerely regret this situation and we apologize to those Ontario customers affected by the error,” says Debbie Coull-Cicchini, COO for Ontario. “We have implemented new processes to ensure that all our customers will receive the Claims Free Renewal discount to which they are entitled.”

The average reimbursement amounts to approximately $76 plus any applicable interest and sales tax. Customers affected by the error on their 2006 policies are in the process of receiving a credit on their current premiums equal to the amount of the discount. For current and former customers affected by the omission of the CFR discount in previous years, the companies will be issuing refunds within the next few weeks.

The Financial Services Commission of Ontario has reviewed and agreed to this reimbursement process.

Customers who have questions about the reimbursement process may contact their broker or call ING’s refund hotline toll-free at 1-877-217-7248.