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ASIC has filed proceedings against Auto & General, alleging tens of thousands of Budget Direct customers lost discounts they were promised and were overcharged premiums for several years.
The corporate regulator is challenging insurer IAG's claims of legal professional privilege over a technical report in proceedings over allegedly misleading loyalty discounts.
NAB has sued a group of insurers alleging they are liable to indemnify the bank for a $64.25 million settlement and associated defence costs in a superannuation class action against units MLC and NULIS Nominees.
Construction PRO
Insurer Liberty is not on the hook for costs incurred by Seymour Whyte Construction for dealing with asbestos-contaminated soil, but is liable to cover legal fees for advice sought by the company.
Insurer Marsh has successfully appealed a finding that it breached its obligation not to use documents discovered in litigation over the $7 billion collapse of supply chain finance firm Greensill in separate proceedings.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Construction PRO
A group of insurers can't join Northwest Rail Link joint venture partners MTR and UGL to a suit by CPB Contractors and John Holland over a $100 million policy, with a judge saying the joint venture’s interests in the case are commercial rather than legal.
Crown Resorts has lost a fight against a proposal by funders for iProsperity Group's liquidators to put up an after-the-event insurance policy as security for costs in a case that seeks to recover $55 million in gambling losses.
The ACCC has opposed IAG’s proposed $1.35 billion acquisition of RACWA's insurance operations, saying the deal would substantially lessen competition for motor vehicle and home and contents insurance in Western Australia.
A court has slapped private health insurer Bupa with a $35 million penalty after it admitted to misleading thousands of customers about their benefits for over five years.