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Swann Insurance will offer to refund 67,960 customers $39 million paid for add-on insurance products that were of low or no value.
ASIC has called on companies to focus on giving information for users of financial reports that is useful and meaningful, and to address the impact of major new accounting requirements.
AFCA will be established as a free, binding dispute resolution service to hear financial complaints from consumers, small businesses and retail investors.
AAMI has paid $43,200 in penalties after ASIC found it had made false or misleading statements on its website and in radio advertisements for home insurance.
ASIC has acted to stop two Queensland-based financial services companies from selling insurance products and providing financial services without being licensed.
JLT has partnered with the Australian Property Institute (API) to launch API ValCover - a tailored and comprehensive Professional Indemnity insurance scheme to benefit professionals in the property market.
The National Insurance Brokers Association has made very strong points to scrap the NSW ESL in its submission to the inquiry into the fire and emergency services levy.
The relationship between insurance and asbestos is complex, which makes it difficult to determine liability. However, it is no secret that asbestos is a very real menace especially in Australia.
The Insurance Council of Australia has welcomed Queensland Treasurer Curtis Pitt’s announcement that the Queensland Government, if re-elected, will provide funding to improve the cyclone resilience.
The Federal Court has imposed a civil penalty of $1 million against Melbourne-based financial advice firm for breaches of the best interests duty.