Insurer Liberty Mutual is challenging its loss in a coverage dispute with construction company Icon Co over $31 million in losses stemming from Sydney’s Opal Tower, whose residents were evacuated after cracks appeared in the tower’s walls on Christmas Eve in 2018.
A second class action has been filed against insurance giant Allianz seeking compensation for consumers alleged to have been ripped off by “worthless” add-on car insurance.
The Federal Court’s top judge has cautioned ASIC and insurers Allianz and AWP against presenting a “bastardised form of pleading” in the financial watchdog’s action over the alleged misleading sale of travel insurance to over 31,000 consumers.
An amicus curiae will be appointed by the court to argue against a common fund order application by the funder backing a class action against two Insurance Australia Group subsidiaries, after the insurance giant agreed to a $138 million settlement last month.
Funeral insurer ACBF Funeral Plans and parent company Youpla Group are facing legal action from the corporate regulator alleging they breached financial service laws by making false claims in a funeral insurance policy sold primarily to Aboriginal consumers.
Construction firm Icon Co has won a coverage dispute with its insurers over $31 million in losses stemming from Sydney’s ill-fated Opal Tower, whose residents were evacuated after cracks appeared in the tower’s walls on Christmas Eve in 2018.
AIG has settled a lawsuit brought by Kaboko Mining against several former directors alleging they failed to exploit commercial opportunities, after the insurer failed to convince an appeals court that an insolvency exclusion in the company’s D&O policy should exempt it from covering the claims.
The chief judge of the Federal Court has told Chubb Insurance to consider whether it wants to be held responsible for the commercial viability of Evolution Precast Systems, which has been denied coverage over the ill-fated Opal Tower and faces myriad legal claims.
Insurance Australia Group will fork over $138 million to settle a class action brought against two subsidiaries alleging they engaged in misleading and deceptive conduct by pushing worthless insurance on motor vehicle purchasers.
The corporate regulator has brought action against Allianz Australia alleging the insurer misled consumers who purhased travel insurance on Expedia websites by failing to disclose how premiums were calculated and selling policies to ineligible customers.