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Showing 1 - 10 of 11 results for "Loan Protection"

CBA pleads guilty to selling junk insurance

ANNABELLE DICKSON  |  MONDAY, 1 NOV 2021
... insurance. The charges were brought by ASIC and relate to CBA's promotion and sale of CreditCard Plus and Loan Protection policies as an add-on insurance product in branches, by telephone and online. ASIC alleged between 2011 and 2015, CBA made false ...

Criminal charges filed against CBA

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
... insurance, with the bank to plead guilty. The charges relate to CBA's promotion and sale of CreditCard Plus and Loan Protection policies as an add-on insurance product in branches, by telephone and online. ASIC alleges that between 2011 and 2015, CBA ...

OnePath receives first Life Code sanction

JAMIE WILLIAMSON  |  WEDNESDAY, 17 JUL 2019
... non-compliant product and remediate customers by an agreed deadline. In July 2017 OnePath self-reported its ANZ Loan Protection Insurance product as non-compliant with the Code, but continued to sell the product for a further 19 months until February ...

CBA stashes cash for compliance

DARREN SNYDER  |  WEDNESDAY, 12 DEC 2018
... penalty announced in June. The provision is in addition to its remediation provisions for Credit Card Plus, Personal Loan Protection and Home Loan Protection insurance. Finally CBA will put $55 million towards transaction and separation costs in relation ...

Comyn promises personal accountability

KARREN VERGARA  |  TUESDAY, 20 NOV 2018
... Comyn on CBA's poor selling practices, specifically on consumer credit insurance, and home loan and personal loan protection products. Comyn said the process of remediation is still underway, with $10.5 million repaid to affected customers and another ...

Life insurer undertakes strategic review

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... when the review will be completed. Freedom deals in funeral, accident and life insurance, as well as income and loan protection. It is closely linked to boutique dealer group, Spectrum Wealth Advisers. Freedom will face the sixth round of the Royal Commission ...

Freedom acquires bank insurance arm

KARREN VERGARA  |  TUESDAY, 17 APR 2018
... criteria as it brings significant new capability and management resources; accelerates our product diversification in loan protection and term life; and makes financial sense for shareholders. It would take years for us to replicate the St Andrew's infrastructure," ...

ASIC and CBA discussing potential advice problem

EMMA RAPAPORT  |  TUESDAY, 15 AUG 2017
... about 65,000 customers, with an average refund of approximately $154 including interest. - Refund for some Home Loan Protection insurance customers - in 2016, CBA identified that some customers who had purchased Home Loan Protection insurance had been ...

CBA chief executive will stand down

EMMA RAPAPORT  |  MONDAY, 14 AUG 2017
... refunding approximately $586,000 in premiums to about 10,000 customers after it over-insured these customers for Home Loan Protection CCI taken out with a Commonwealth Bank home loan, resulting in the over-charging of premiums. ASIC deputy chair Peter ...

Westpac to refund unwanted insurance

ALEX BURKE  |  THURSDAY, 29 OCT 2015
... customers will receive notification from Westpac that they are eligible for refunds, the bank having charged them for loan protection insurance in periods where they did not intend to be covered. The ASIC review covered customers who took out Mortgage ...
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