Insurance

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.

Roadside assistance company NRMA has resolved a Fair Work case by a former in-house lawyer who alleged she was dismissed after making a whistleblower complaint.

Mills Oakley has bolstered its insurance offering, nabbing a 15-person team from Moray & Agnew, including three partners.

The High Court has declined to review a ruling from the Victorian Court of Appeal that found domestic building insurance policies do not respond to when a defect arises, but rather to when loss or damage is suffered.

Businesses in two cases against Lloyd's and QBE over COVID-19 losses have failed in an appeal of a ruling stripping the suits of class action status.

Insurer IAG has provided a draft undertaking in the hopes of alleviating the ACCC's concerns that its $1.35 billion takeover of the RAC WA’s insurance operations would substantially lessen competition for certain insurance products in the state.