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Dick Smith class actions headed for March trial after mediation fails
Class Actions 2020-02-10 11:00 am By Cat Fredenburgh

Two shareholder class actions against failed electronics retailer Dick Smith will head to trial in March, after a failed attempt to resolve the long-running dispute in mediation.

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Clyde & Co continues raid on Norton Rose to fuel Australia growth
People In The News 2020-02-07 10:08 pm By Cat Fredenburgh

Clyde & Co has snagged three insurance partners from Norton Rose Fulbright, as the global firm continues to expand in Australia.

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Judge hits AMP with $5.2M penalty, says greedy financial adviser was ‘in the right place’
Financial Services 2020-02-05 11:05 am By Miklos Bolza

The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was “reckless” in its “lamentable failure” to properly respond to a now banned adviser who was churning life insurance for higher commissions.

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Judge OKs $29M settlement in Radio Rentals class action
Class Actions 2020-01-09 1:12 pm By Christine Caulfield

A judge has given his seal of approval to a $29 million settlement that resolves a class action over Radio Rentals’ Rent, Try, $1 Buy scheme alleging customers were kept in the dark about the true cost of their rentals.

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Class wins access to Appco insurance docs in sham contracting case
Employment 2019-12-19 10:18 pm By Cat Fredenburgh

Appco has agreed to hand over insurance policy documents to the lead applicant in a $90 million sham contracting class action, amid concerns about the dire financial state of the fundraising company as the matter moves towards mediation.

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Westpac class action on shaky ground after High Court ruling
Class Actions 2019-12-19 6:30 pm By Miklos Bolza

A class action against Westpac over allegedly excessive insurance premiums that was at the centre of a successful High Court challenge to common fund orders may back out of funding the case in the wake of the landmark ruling.

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ASIC takes life insurer TAL to court over handling of cancer victim’s claim
Insurance 2019-12-17 10:22 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has taken legal action on another referral from the banking royal commission, dragging life insurer TAL to court for allegedly engaging in misleading and deceptive conduct in its handling of a claim for coverage.

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Suncorp unit can force reversal of Coverforce acquisition, court says
Corporate 2019-12-10 9:52 pm By Christine Caulfield

The head of Australia’s largest unlisted insurance broker, Coverforce, may face a future damages claim for misleading or deceptive conduct if a recent acquisition of former Suncorp unit Resilium is not reversed, a court has found.

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Judge looks out for pensioners as NAB ‘junk’ insurance class action settlement approval delayed
Class Actions 2019-12-03 2:37 pm By Miklos Bolza

A judge on Tuesday questioned how elderly group members struggling with the digital age can register in a ‘junk’ insurance class action against National Australia Bank, amid the postponement of hearing to approve the $49.5 million settlement reached in the case.

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CBA unit hit with $700,000 criminal fine for insurance hawking
Insurance 2019-11-28 1:16 pm By Miklos Bolza

The Commonwealth Bank of Australia’s insurance division, CommInsure, has been fined $700,000 for breaching insurance hawking laws in Australia’s first post-Royal Commission criminal conviction, dodging a maximum fine of over $1.8 million through an early guilty plea and cooperation with ASIC.

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