Insurance

NAB has sued a group of insurers alleging they are liable to indemnify the bank for a $64.25 million settlement and associated defence costs in a superannuation class action against units MLC and NULIS Nominees. 

Insurer Marsh has successfully appealed a finding that it breached its obligation not to use documents discovered in litigation over the $7 billion collapse of supply chain finance firm Greensill in separate proceedings.

Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.

A group of insurers can't join Northwest Rail Link joint venture partners MTR and UGL to a suit by CPB Contractors and John Holland over a $100 million policy, with a judge saying the joint venture’s interests in the case are commercial rather than legal. 

Crown Resorts has lost a fight against a proposal by funders for iProsperity Group's liquidators to put up an after-the-event insurance policy as security for costs in a case that seeks to recover $55 million in gambling losses.

A court has slapped private health insurer Bupa with a $35 million penalty after it admitted to misleading thousands of customers about their benefits for over five years.

The ACCC has opposed IAG’s proposed $1.35 billion acquisition of RACWA's insurance operations, saying the deal would substantially lessen competition for motor vehicle and home and contents insurance in Western Australia.

Collapsed supply chain finance company Greensill Bank can't access a copy of a Tokio Marine unit's database, with a judge finding the copy was created for the primary purpose of HWL Ebsworth providing legal advice.

The co-owners of the Pacific Werribee shopping centre in Victoria have lost their bid to join collapsed builder Probuild’s primary insurer AIG to their case over $356 million in alleged defects.

Veteran of the NSW bar Edward Muston SC has been sworn in as the newest judge of the state's Supreme Court, but before he was prosecuting high stakes environmental law cases, his plan was to be a jackaroo.