RACQ has apologised for problems with insurance renewal notices that have triggered a potential multimillion dollar lawsuit from regulators, but says mysteries remain about what went wrong.

"To you, and all our members — I'm sorry. This matter is certainly not in line with our high standards or the experience we strive to offer," RACQ chief executive David Carter said at the organisation's annual general meeting on Tuesday.

RACQ complaint numbers spike

RACQ has seen a spike in complaints as premiums rise and insurance claims are mishandled.

RACQ is one of Queensland's biggest customer-owned organisations with almost 1.7 million members.

It offers services including insurance and roadside assistance.

ASIC launches action

The organisation was hit with a Federal Court lawsuit from the

See Full Page