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Class action accuses QSuper of overcharging 140,000 members
Financial Services 2021-11-25 2:32 pm By Bianca Hrovat

Superannuation fund QSuper has been hit with a class action for allegedly overcharging up to 140,000 life insurance customers. The Shine Lawyers-led class action was […]

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Greensill Bank says IAG unit owes $48.5M under trade credit policy
Restructuring & Insolvency 2021-11-24 10:15 pm By Christine Caulfield

The insolvency administrator of Germany-based Greensill Bank AG has launched court proceedings against Insurance Australia Limited seeking US$35 million allegedly owed under a policy indemnifying […]

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Banksia class action barristers declare bankruptcy after $21.7M judgment
Class Actions 2021-11-19 9:39 pm By Christine Caulfield

Two former barristers ordered to pay at least $21.7 million in damages and costs for their role in a fraudulent scheme to pocket a windfall […]

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ASIC hits MLC with $17.5M court action over insurance failures
Financial Services 2021-11-19 9:14 am By Cat Fredenburgh

The corporate regulator has taken MLC Limited to court, alleging the insurer’s failure to implement proper systems and controls over a more than 20 year […]

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Top judge did ‘unexplained violence’ to Star’s business interruption policy, Full Court told
Insurance 2021-11-08 9:42 pm By Miklos Bolza

In rejecting a bid by The Star Entertainment Group to recoup losses stemming from the COVID-19 pandemic, the Federal Court’s Chief Justice did “real and […]

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CBA seeks leniency as judge grapples with first criminal case of its kind
Financial Services 2021-10-29 5:31 pm By Miklos Bolza

A fine imposed against the Commonwealth Bank for false and misleading representations to customers should reflect offences that were “well below the midpoint” of seriousness, […]

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ASIC takes action against ex-Freedom Insurance boss over Vespa sales incentive
Insurance 2021-10-25 9:50 pm By Christine Caulfield

The corporate regulator has brought proceedings against the former boss of defunct Freedom Insurance and another executive over an insurance sales program that incentivized sales […]

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CIMIC spars with insurers over coverage for Iraq bribery cases
Insurance 2021-10-20 3:48 pm By Cindy Cameronne

Engineering services firm CIMIC Group has launched proceedings against ten insurers seeking indemnity for costs arising from allegations the company engaged in corrupt practices, including […]

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ASIC launches action against Insurance Australia over $60M in promised discounts
Insurance 2021-10-15 12:07 pm By Bianca Hrovat

The Australian Securities and Investments Commission has accused the largest general insurer in Australia of short-changing its customers a staggering $60 million in promised discounts, […]

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Judge warns AMP it could face 1.2M lawsuits if declassing bid succeeds
Class Actions 2021-10-11 10:07 pm By Cindy Cameronne

AMP and a number of its financial planning subsidiaries could face 1.2 million individual claims if they win a bid to declass a group proceeding […]

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