Lack of independence

Recommendation 2.2 – Disclosure of lack of independence The law should be amended to require that a financial adviser who would contravene section 923A of the Corporations Act by assuming or using any of the restricted words or expressions identified Read More …

10.2 Evidence

AAI issues 37 home and contents insurance products through 13 different brands, including AAMI.[1] Generally speaking, AAI’s home and contents policies are ‘sum insured’ policies, which require the policyholder to nominate the amount for which their home and contents will 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 …

7.3 What the case study showed

This case study raised issues not only about the misleading and deceptive content on Allianz’s website, but also about Allianz’s compliance processes, governance and culture more generally. It is convenient to begin with the issues relating to the misleading and Read More …