Tower is refunding millions of dollars to customers for their car insurance

The New Zealand owned company says it'll pay back 7.2 million dollars due to the lower cost of car claims during the Covid-19 lockdown.

Every customer will be refunded part of their car insurance premium paid during level three and four.

CEO Richard Harding, says it's the right thing to do.

He says Insurers shouldn't profit from the Covid-19 pandemic, and that they should be transparent with customers.

Refunds will start being paid later this month.