Conflicts

Where possible, conflicts of interest and conflicts between duty and interest should be removed. There must be recognition that conflicts of interest and conflicts between duty and interest should be eliminated rather than ‘managed’. Several recommendations deal with conflicts of Read More …

Recommendations: Answering the key questions

As I have already said, I think it useful to restate and reorder what I have set out above so that the reader can see the way in which particular recommendations fit together. Restated and reordered below, the recommendations seek Read More …

8.3 What the case study showed

Mr Bessell accepted that consumers were sold products that were of questionable or little value to them, and that the products could have been better explained by the dealers.[1] Mr Bessell agreed that the number and complexity of the products Read More …

8.2 Evidence

Mr Bessell described the relationship between IAG and Swann as a ‘devolved business model’,[1] where Swann was effectively a standalone business.[2] However, the person with ultimate responsibility for Swann was the head of the IAG division in which Swann sat,[3] 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 …

2.3 What the case study showed

2.3.1Misconduct In its submissions to the Commission, Freedom suggested that in circumstances where ASIC was reviewing Freedom’s practices, ‘ASIC might be considered the more appropriate body to review and make final determinations regarding the past conduct of Freedom Insurance [than Read More …