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CBA unit pleads guilty to 87 charges over insurance hawking
Insurance 2019-11-19 10:36 am By Miklos Bolza

The Commonwealth Bank of Australia’s insurance division, CommInsure, has pleaded guilty to 87 criminal charges that it hawked life insurance products in unsolicited telephone calls, but wants credit for the early plea.

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Key insight into claim on Warranty & Indemnity insurance
Expert Insights 2019-11-14 9:35 pm By Christine Caulfield

The Supreme Court of Victoria has considered whether an insured buyer under a warranty and indemnity policy is entitled to indemnity from an insurer when it relied on income and liability warranties in a share sale agreement and those warranties were breached, a case that provides welcome guidance on the contractual interpretation of W&I policies, writes Justin McDonnell and Rebecca LeBherz of King & Wood Mallesons.

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Class action puts pressure on Icon for speedy resolution of Opal Tower insurance case
Class Actions 2019-11-12 4:23 pm By Miklos Bolza

Construction firm Icon Co has pressed the Federal Court for an expedited hearing in its case against insurers Liberty Mutual Insurance and QBE over the 2018 Opal Tower disaster, saying it wants to resolve the matter before a class action brought by apartment owners in building progresses too far.

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Judge sends HIH Insurance legal fee fight back to the drawing board
Restructuring & Insolvency 2019-11-07 10:22 pm By Miklos Bolza

A NSW Supreme Court judge has raised concerns about a dispute over fees owed to two law firms and a funder in relation to four shareholder actions brought against the liquidators of HIH Insurance.

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Icon denies QBE exclusions applied in Opal Tower disaster
Class Actions 2019-11-07 4:47 pm By Miklos Bolza

Construction firm Icon Co has rejected QBE Underwriting’s argument that exclusion clauses in coverage for Sydney’s Opal Tower meant the insurer did not have to indemnity it after a series of major cracks in the building led to the evacuation of thousands of residents on Christmas Eve last year.

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Insurers may get dragged into class action over ‘botched’ breast implants
Insurance 2019-10-25 9:03 pm By Miklos Bolza

Cosmetic Institute director Dr Eddy Dona has flagged that he may drag insurers of his now collapsed medical chain into a class action brought against him and the company over allegedly botched breast implants.

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Legal fee fight looms in HIH Insurance shareholder actions
Restructuring & Insolvency 2019-10-21 9:58 pm By Miklos Bolza

Lawyers behind four quasi representative proceedings against the liquidators of collapsed HIH Insurance have launched a bid to recoup the costs of their successful 18-year-long legal battle.

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ASIC calls out insurers, super funds for selling ‘junk’ TPD insurance
Insurance 2019-10-17 5:09 pm By Amelia Birnie

AMP, Asteron and Westpac have been singled out by ASIC for having higher than expected decline rates for total and permanent disability life insurance claims, in a new review by the corporate watchdog that also revealed a “concerningly high” 60 per cent rejection rate for some narrowly defined policies.

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HWL Ebsworth resolves claims partner helped divert insurance money to pay legal bill
Legal Ethics 2019-10-16 9:19 pm By Cat Fredenburgh

HWL Ebsworth has resolved a lawsuit alleging one of its partners helped the former directors of an insolvent mobile ticketing company divert the proceeds of a life insurance policy to pay money owed to the firm.

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Medibank admits to violating consumer law with insurance cover fail
Competition & Consumer Protection 2019-10-16 1:11 pm By Cat Fredenburgh

Health insurer Medibank has admitted to engaging in misleading and deceptive conduct when it falsely told consumers they were not eligible for certain coverage under their insurance policies in what it called an “internal process failure”, but denies the ACCC’s claim that consumers were denied the benefits they paid for.

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