ASIC puts banks on notice after review shows ‘extremely poor value’ of credit insurance

Financial Services 2019-07-11 6:47 pm By Amelia Birnie | Sydney

The corporate watchdog has warned “robust” enforcement action is on the cards for banks and lenders, after a review found consumer credit insurance policies to be “extremely poor value for money”, paying out as little as 11 cents per dollar spent in premiums on average.