Insurance

Credit ratings agency Fitch has lost its bid for financial information about three Lloyd’s insurance syndicates which are providing after-the-event coverage in a class action over synthetic collateralised debt obligations. 

A judge has set down the start of trial in Greensill investor White Oak's case against Insurance Australia Group, as the insurer finalises its settlement with Credit Suisse and UBS over the collapse of the supply chain funder.

The ACCC has opposed Insurance Australia Group's planned $1.35 billion acquisition of RAC Insurance of Western Australia, despite a five-year undertaking by IAG.

Crown Resorts has taken its excess insurer to court after being denied coverage for part of a $72.5 million shareholder class action settlement not covered by its primary insurer. 

Allianz has lost its bid to recover a contribution from AIG over a $1.65 million worker's compensation claim against Icon subcontractor Built Tech Hoardings.

A court has ruled for insurer SICorp in a dispute over a development in Sydney's Rosehill, finding the family group who owned the property should be considered developers under an exemption in the insurer's policy. 

In a win for ASIC, a judge has found Choosi misrepresented that its service compared policies from a range of funeral and life insurers, when just two brands were compared.

The lawyers and funder behind a settled class action against AMP will ask a court to OK fees and commission totalling almost $22 million, a bill that leaves just $7 million for group members but represents a $43 million loss on actual costs.

The Australian Securities and Investments Commission is seeking $30 million in penalties in its case against Hollard Insurance over delays in assessing the claims of a couple over damage to their home from a storm. 

A judge has approved a $22.5 million settlement in a class action against two former CBA wealth management units, under which group members will receive just $5.12 million and the lawyers and funder will receive the lion’s share.