MLC

National Australia Bank says employees suing the company for years of alleged unpaid overtime have failed to prove the work asked of them was unreasonable, in response to a test case that could affect up to 10,000 staff. 

A judge has ordered MLC to pay $10 million for its “serious failure” to pay life insurance benefits to customers undergoing rehabilitation, in an ASIC case that also alleged the insurer failed to promptly update medical terms in policies.

MLC has agreed to cop a $10 million penalty for admitted breaches of the Corporations Act in an ASIC case that alleged the insurer failed to promptly update medical terms in policies and withheld payment of a life insurance benefit.