IAG

A judge has signalled his intention to sign off on a $138 million settlement in a class action against IAG and approve a common fund order that gives the litigation funder a $34.5 million commission, but an application by the funder for reimbursement of after-the-event insurance has been refused.

Insurance Australia Group will fork over $138 million to settle a class action brought against two subsidiaries alleging they engaged in misleading and deceptive conduct by pushing worthless insurance on motor vehicle purchasers.