Search Results | Showing 1 - 10 of 61 results for %22Insurance Contracts Act%22 |
| | ... 2020. The class action was against several parties, including ANZ, and related to the sale of three consumer credit insurance products. ANZ said it would contribute $42 million to the settlement, without admission of liability. |
| | | ... income protection policy. The case marks ASIC's first attempt to impose a civil penalty under s13 of the Insurance Contracts Act 1984 (Cth), a section that mandates insurers uphold the duty to act with utmost good faith. In 2018, OnePath, previously ... |
| | | ... they said. Radar Results chief executive John Birt is astounded at such brazen practices. "... I understand most insurance companies regularly increase base rates. You have to wonder why: price gauging or just because they can," he said. "If the policy ... |
| | | ... Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations Act, and the Insurance Contracts Act between November 2015 and October 2018. |
| | | ... haven't lodged a formal complaint. In the superannuation sector, one identified issue concerned the provision of insurance attached to super funds. An AFCA investigation uncovered a superannuation trustee that failed to uphold its legislative obligation ... |
| | | ... Federal Court after it was found guilty of several breaches of the ASIC Act, the Corporations Act, and the Insurance Contracts Act between November 2015 and October 2018. At the time, MLC provided income protection cover through policies that contained ... |
| | | ... including in insurance products. "Given the expansion of the unfair contract terms regime in April 2021 to include insurance contracts, ASIC's current focus on enforcement action concerning unfair contract terms should not come as a surprise," she ... |
| | | ... used to check potential inconsistencies in claim information. Since March 2019, section 13(2)(A) of the Insurance Contracts Act 1984 imposes a civil penalty on an insurer that fails to act towards an insured with utmost good faith. The penalty did not ... |
| | | ... business lines where needed. As well as align the prudential framework with Australian Accounting Standard AASB17 Insurance Contracts, including implementing renewed data collections. It concluded that it will look to improve resilience and reduce the ... |
| | | ... covered by the Australian Financial Complaints Authority or as an absolute minimum, managed investment schemes, funeral insurance policies and debt management firms. "Ultimately, this scheme is about who bears the costs of misconduct in the system, and ... |
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