Insurance

After an 18-month investigation, the Office of the Australian Information Commissioner has lodged civil penalty proceedings against Medibank over its October 2022 data breach, accusing the health insurer of breaching the Privacy Act.

The co-owners of Pacific Werribee shopping centre in Victoria have largely won their bid for insurance documents as they weigh a second case against collapsed construction company, allegedly worth up to $335 million. 

Kennedys has lured a team of 16 from Clyde & Co, including three partners, to bolster its insurance practice group, the latest raid on its rival firm.

Approving a settlement between insurers and group members in an investor class action against lender Axsesstoday, a judge has aired his frustration with expansive confidentiality provisions and deeds that “misapprehend the nature of the court’s role” in dealing with group members’ claims. 

The chair of the Medibank board has given evidence that he engaged King & Wood Mallesons to commission expert reviews in the wake of a cyberattack, including three reports by Deloitte, after hearing rumours of class action investigations in October 2022. 

Four insurers have agreed to fork over $1 million to settle an investor class action against lender Axsesstoday over an allegedly misleading prospectus for a bond offering, while claims against PricewaterhouseCoopers will move forward.

A class action against failed asset finance lender Axsesstoday and auditor PricewaterhouseCoopers has reached an in-principle settlement with the lender’s insurers.

The lead plaintiff in a four-year-old class action against Zurich Insurance over a defective New Zealand apartment block has said the case “has to get moving”, telling the court that property owners have not received payment since a $50 million judgment was awarded overseas in 2017.

Insurer Lloyd’s in not on the hook for losses arising from a cancelled 2019 music festival, with a judge finding the Black Summer bushfires did not render cancellation necessary as was required for coverage under the relevant insurance policy.

The corporate regulator is appealing a judgment that tossed its landmark action against Austo & General Insurance, saying the judge erred in construing an unclear and disproportionate term in the insurer’s house and contents policy.