HCF Life fined $750k for misleading contract termBY KARREN VERGARA | FRIDAY, 9 MAY 2025 12:26PMHCF Life Insurance has been fined $750,000 by the Federal Court for misleading the public about a pre-existing condition term under its Recover products. Related News |
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Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
The exclusion for unknown pre-existing conditions has been in contravention of the insurance contracts act for more than 35 years. The fact that a clause of this nature was applied to a life insurance policy should have resulted in a far more significant fine.