Thomas Muir

The Commonwealth Bank of Australia’s insurance division, CommInsure, has been fined $700,000 for breaching insurance hawking laws in Australia’s first post-Royal Commission criminal conviction, dodging a maximum fine of over $1.8 million through an early guilty plea and cooperation with ASIC.

The Commonwealth Bank of Australia’s insurance division, CommInsure, has pleaded guilty to 87 criminal charges that it hawked life insurance products in unsolicited telephone calls, but wants credit for the early plea.