Insurer AIG Australia will have to pay collapsed diary processing firm Murray Goulburn at least $8.85 million after a court ruled it was liable to cover some of the costs of a $42 million class action settlement reached with irate investors last year.
A class action by investors of collapsed Linchpin Capital against the company’s former directors wants to join their insurers as defendants to the proceedings.
A small business owner has launched proceedings against his insurer claiming he was wrongly denied pandemic coverage under a business interruption policy, one of many cases expected to be filed in the wake a landmark ruling on infectious disease exclusions that could cost insurers $10 billion.
Insurance broker Jardine Lloyd Thompson wants to declass a representative action brought on behalf of local councils in NSW alleging it socked them with inflated premiums, arguing there are no common questions to be determined in the case.
A judge has approved a “disappointing” $25 million settlement in long-running class action litigation over the collapse of electronics retailer Dick Smith with claims worth hundreds of millions of dollars.
A group of late opt out notices by group members in a class action over IAG insurance, who were egged on in part by a ‘corporate warfare’ campaign by claims management service Claimo, could result in IAG pulling the plug on a $138 million settlement.
In another victory for ASIC in a case stemming from the banking royal commission, a judge has ruled that TAL Life Limited breached the Insurance Contracts Act after denying coverage to a cancer patient and threatening to recover $24,000 it had already paid to her.
A judge has found a group of insurers defending a $309 million lawsuit over an Australia Pacific LNG project in Central Queensland cannot be represented by two law firms, saying it would not be in the interests of justice.
After months of uncertainty and a scolding from the judge about “vague” excuses, former Linchpin Capital directors facing proceedings by ASIC and a class of investors have been given assurance that their legal costs will be covered under an insurance policy.
ASIC has launched civil penalty proceedings against Statewide Super alleging that around 12,500 fund members were not covered by any insurance policy for a year despite the super fund informing them that they had cover while deducting monthly premiums worth $1.5 million.