New Zealand insurer Tower will give refunds to 23,000 customers after identifying an error in calculating multi-policy discounts.

“The error occurred due to a technical issue and we moved to correct it as soon as it was identified,” the company said.

“Those who are due a refund will receive this over the coming days.”

The error affected some Tower Insurance, FinTel, Kiwibank and TSB Bank customers who had multiple policies in place between October 2014 and August this year.

After a change in systems, policies that were previously linked were not recognised.

Click here for more information.