Insurance

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.

Hong Kong-based UDP was entitled to $25 million from its insurers after losing more than $30 million from its disastrous acquisition of dairy conglomerate 5 Star Foods, which had been secretly overcharging one of its biggest customers, food giant Lion Nathan Group.

QBE Underwriting has defended its decision to deny insurance coverage to the builder of Sydney’s troubled Opal Tower development, claiming the cracking was not “major” and did not cause last year’s Christmas Eve evacuation.

Comments made by the director of three firms accused of pushing life insurance onto vulnerable consumers during the banking royal commission may come back to haunt him in a civil penalties proceeding brought by the Australian Securities and Investments Commission.

Commonwealth Bank of Australia's insurance unit, CommInsure, is facing 87 criminal charges for allegedly hawking life insurance products in unsolicited telephone calls.

Three syndicates of Lloyd's London have failed in their bid to toss a case brought by National Australia Bank seeking £357 million ($655 million) in insurance claims relating to two consumer redress schemes in the UK.

A judge has approved a common fund application in a class action against two IAG entities over add-on insurance said to be worth up to $1 billion, saying it was only fair to make all group members pay to fund the litigation.

Insurance broker Jardine Lloyd Thompson is facing a second class action on behalf of local councils claiming it charged inflated premiums.

The Australian Competition and Consumer Commission has taken private health insurer Medibank to court for falsely telling consumers they were not eligible for certain coverage under their insurance policies, with over 800 policy holders denied coverage for joint investigation or reconstruction procedures.

Two units of global insurer Lloyd's have launched a constitutional challenge to a Federal Court order requiring accounting firm Pitcher Partners to hand over certain insurance documents in two shareholder class actions.