IAG

A group of late opt out notices by group members in a class action over IAG insurance, who were egged on in part by a 'corporate warfare' campaign by claims management service Claimo, could result in IAG pulling the plug on a $138 million settlement.

Greensill Capital UK filed for insolvency in a London court on Monday after losing insurance coverage for $4.6 billion in client loans.

A judge has found a group of insurers defending a $309 million lawsuit over an Australia Pacific LNG project in Central Queensland cannot be represented by two law firms, saying it would not be in the interests of justice.

A group representing insurers has filed another test case over pandemic coverage in business interruption policies, following a landmark loss in a test case concerning an infectious disease exclusion that could cost insurers $10 billion.

A judge has signalled his intention to sign off on a $138 million settlement in a class action against IAG and approve a common fund order that gives the litigation funder a $34.5 million commission, but an application by the funder for reimbursement of after-the-event insurance has been refused.

Insurance Australia Group will fork over $138 million to settle a class action brought against two subsidiaries alleging they engaged in misleading and deceptive conduct by pushing worthless insurance on motor vehicle purchasers.