Slater and Gordon is planning class actions against ANZ and Westpac over allegedly worthless insurance, fresh off of winning a $49.5 million settlement in a junk insurance class action against the National Australia Bank.
The National Australia Bank and insurer MLC have agreed to pay $49.5 million to settle a class action over allegedly worthless credit card insurance.
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.
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.
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.
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.
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.
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.
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.
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.