Most Recent
ASIC puts banks on notice after review shows ‘extremely poor value’ of credit insurance
Financial Services July 11, 2019 6:47 pm By Amelia Birnie

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 […]

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Incentive-based funding commission dropped in IAG insurance class action
Class Actions June 28, 2019 12:48 pm By Amelia Birnie

The funder backing the IAG add-on insurance class action has agreed to a fixed 25 per cent commission, after the plaintiff copped criticism from a […]

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ASIC seeks $36M penalty against AMP unit in insurance churn case
Financial Services June 19, 2019 5:13 pm By Miklos Bolza

The Australian Securities and Investments Commission has asked a court to impose penalties of up to $36 million on an AMP subsidiary for failing to […]

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AIG loses appeal over insolvency exclusion in Kaboko Mining D&O policy
Insurance June 14, 2019 9:13 pm By Cat Fredenburgh

AIG Australia has failed to convince the Full Federal Court that an insolvency exclusion in a directors and officers policy held by Kaboko Mining should […]

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NAB takes captive insurer, Lloyd’s units to court over coverage dispute
Insurance May 27, 2019 11:06 pm By Miklos Bolza

The National Australia Bank has filed a lawsuit against its Singapore-based captive insurance unit and three syndicates of global insurance giant Lloyd’s seeking coverage for […]

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Judge questions redacted funder’s commission in IAG class action
Class Actions May 24, 2019 1:46 pm By Miklos Bolza

A judge has raised questions about a redacted funding agreement in a class action against two IAG units over allegedly worthless add-on insurance products, saying […]

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AMP admits to breaches in ASIC’s insurance churn case
Financial Services May 21, 2019 12:43 pm By Miklos Bolza

AMP’s financial planning unit has admitted it breached the Corporations Act when at least one of its representatives engaged in so-called insurance policy churning, in […]

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Metlife brings action against AFCA in first court showdown for complaints body
Financial Services May 20, 2019 9:36 pm By Christine Caulfield

Insurance giant Metlife has launched legal proceedings against the Australian Financial Complaints Authority to challenge a finding in favour of an injured former NSW police […]

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$6M class action settlement is one claim under insurance policy, Bank of Queensland says
Class Actions May 14, 2019 8:52 pm By Miklos Bolza

The Bank of Queensland has criticised a judgment which found the bank’s insurance policy left it on the hook for a $6 million settlement of […]

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Judge calls for joint expert report in ASIC’s insurance churn case against AMP
Financial Services April 8, 2019 7:57 pm By Miklos Bolza

An argument over the admissibility of an expert report produced by the Australian Securities and Investments Commission in its insurance churn case against AMP was […]

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