The obligations in sections 37C and 37CA of the Banking Act should be amended to make clear that an ADI and accountable person must deal with APRA and ASIC (as the case may be) in an open, constructive and co‑operative Read More …
Tag: case
4.10 — Extension of the sanctions power
The Financial Services Council and the Insurance Council of Australia should amend section 13.10 of the Life Insurance Code of Practice and section 13.11 of the General Insurance Code of Practice to empower (as the case requires) the Life Code Read More …
11.1 Background
This case study concerned the handling by AAI of an insurance claim arising out of storm damage. The Commission heard evidence from Ms Bernadette Heald and again from Mr Gary Dransfield, the Chief Executive Officer of Insurance at the AAI Read More …
10.1 Background
AAI Limited (AAI) carries out the general insurance activities of Suncorp Group.[1] The case study focused upon AAI’s handling of claims made following the Wye River bushfires on Christmas Day 2015, and the way in which AAI marketed its Complete Read More …
9.1 Background
Youi Pty Ltd (Youi) issues general insurance products. The case study examined Youi’s conduct in handling claims under home insurance policies following natural disasters. In particular, the Commission heard evidence about Youi’s conduct in its handling of two insurance claims: Read More …
6.2 The case studies
The Commission heard evidence from Mr Sainsbury.[1] Three issues were examined in the course of Mr Sainsbury’s evidence. They were: the charging of higher premiums for delinked members where AMP is not aware of the member’s smoker status, AMP’s processes Read More …
5.3 What the case study showed
The case study demonstrated the complexities faced by the administration of a group life insurance scheme within a large superannuation fund. It also demonstrated the profound effects for individual members from policy wording negotiated by superannuation trustees and group life Read More …
5.1 Background
This case study concerned the conduct of the Retail Employees Superannuation Pty Limited, a registerable superannuation entity licensee and the trustee of Retail Employees Superannuation Trust (REST). The focus of the case study was the provision of life insurance, total Read More …
4.3 What the case study showed
This case study showed how TAL had dealt with separate claims under three income protection policies. The claimants had different medical conditions. The case study raised several broader questions about TAL’s policies and procedures. Much of TAL’s conduct was rightly Read More …
4.2 Evidence
4.2.1The first insured The first insured applied for an income protection policy from TAL in February 2009.[1] In the online application form that she completed, she was asked a number of questions about her personal history. One of those questions Read More …