Insurance

Funeral insurer ACBF has been hit with a $3.5 million penalty for “callous” and “egregious” misrepresentations to Indigenous customers that its business was Aboriginal owned or managed.

The corporate regulator has appealed a Federal Court decision that rejected part of its case against HCF Life Insurance over a pre-existing condition term in its policies that was found to be misleading but not unfair.

AMP is facing a new class action alleging certain superannuation fund members were hit with inflated premiums over a five-year period, after arguing a similar matter was "in search of a case" more than four years after being filed. 

Maurice Blackburn's costs in running a 'junk' insurance class action which settled for $34 million will not be fully covered under a 25 per cent group costs order, a court has heard. 

Private health insurer Bupa has admitted to misleading thousands of customers about their private health insurance benefits and has agreed to cop a $35 million penalty in a case by the consumer watchdog.

A judge has dismissed applications by mortgage broker Lendi Group and insurer ALI Group to declass a group proceeding over allegedly worthless mortgage insurance, saying it would be more efficient for the claims to advance as a class action. 

A judge has sent to the Full Federal Court Medibank’s fight to shield Deloitte reports into a data breach, raising concerns about how evidence from a solicitor and the health insurer's inhouse lawyer was previously treated. 

An appeals court has dismissed the corporate regulator's "logically inconsistent" appeal against a landmark decision that found insurer Auto & General did not include an unfair term in its contracts.

Mortgage broker Lendi Group and insurer ALI Group want to declass a junk insurance class action, telling a judge that even in a successful scenario, the more than 13,000 group members will be left to share only $2.5 million.