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Showing 1 - 10 of 14 results for %22CCI Insurance%22

ANZ to pay $42m in insurance lawsuit

CASSANDRA BALDINI  |  MONDAY, 14 NOV 2022
ANZ has agreed to pay $42 million to settle a class action regarding consumer credit insurance (CCI) products. Commonwealth Bank has also reached a settlement for a similar matter. Slater and Gordon filed the class action against ANZ, OnePath Life ...

MSC Trustees adds to board

JAMIE WILLIAMSON  |  MONDAY, 15 AUG 2022
... roles at a range of listed and unlisted trustees. Meanwhile, O'Connell brings more than 30 years' experience across life insurance, financial advice, superannuation and custody. This includes roles with Citigroup, NAB and BNY Mellon. As a result of their ...

ASIC releases CCIV guidelines

CASSANDRA BALDINI  |  FRIDAY, 24 JUN 2022
... issues raised related to "Australian financial services (AFS) licence or variation applications for corporate directors, insurance arrangements for corporate directors, and financial resource requirements for licensees that are corporate directors and ...

Junk insurance lands Westpac in court

KARREN VERGARA  |  THURSDAY, 8 APR 2021
... the bank sold the products under false and misleading pretenses, asserting its right to charge consumer credit insurance (CCI) premiums customers were not liable to pay. "The supply of the CCI and the debiting of amounts for premiums in those circumstances ...

ESG professionals in huge demand

ELIZABETH MCARTHUR  |  MONDAY, 25 JAN 2021
... join a leading super fund." Kaizen works with Victoria Funds Management Corporation, REST Super, Generation Life, CCI Insurance, Equity Trustees, Prime Super, legalsuper, Zenith Investment Partners, Payton Capital, Cooper Investors, ACSI, Paradigm Group ...

ASIC secures $160m in remediation over junk credit insurance

ALLY SELBY  |  THURSDAY, 14 MAY 2020
... the design and sale of consumer credit insurance consistently failed customers. "As a result of the widespread failings in CCI we identified last year, ASIC has investigations underway and has secured a significant program of remediation for consumers," ...

ASIC bans direct life cold calling

HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
... Insurance and Consumer Credit Insurance) Instrument 2019/839 - to prohibit unsolicited phone sales of direct life insurance and CCI products, unless the offerer has provided the person with personal advice. The corporate regulator said the ban complemented ...

High claims acceptance among insurers: Report

ELIZA BAVIN  |  THURSDAY, 14 NOV 2019
... ratios have a relatively large sample: Individual Non-Advised Funeral (12,299 finalised claims) and Individual Non-Advised CCI (8336 claims)," the report said. "In general, Individual products will have higher acquisition costs associated with the policy ...

Ban unsolicited life insurance sales: Poll

KARREN VERGARA  |  MONDAY, 29 JUL 2019
... percent of participants, who voted in a spot poll conducted last week, said life insurance and consumer credit insurance (CCI) sold via call centre staff should be outlawed. The financial services Royal Commission recommended that the unsolicited sales ...

ASIC slams consumer credit failures

HARRISON WORLEY  |  FRIDAY, 12 JUL 2019
... lambasted the sector for consistently failing consumers in the design and sale of products. According to ASIC report 622, CCI products are being promoted and sold to customers unfairly, and are of a "very low value", revealing consumers who purchase ...
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