Most Recent
Statewide Super fined $4M for charging members for non-existent insurance
ASIC 2022-01-07 10:15 pm By Bianca Hrovat Sydney
Superannuation provider Statewide Super has been ordered to pay a $4 million penalty for an administrative error that saw around 12,500 fund members charged for insurance they did not receive.
Insurer Vero may be dragged into combustible cladding class action
Class Actions 2021-12-22 2:40 pm By Cat Fredenburgh Melbourne
The applicant in a class action against Fairview Architectural over allegedly combustible cladding is add insurer Vero Insurance as a respondent, after revealing the cladding manufacturer may have $190 million in insurance to cover the class action's claims.
Class action against Zurich over faulty apartments gets go-ahead
Australian Government Solicitor 2021-12-13 5:20 pm By Miklos Bolza Sydney
A class action against Irish insurer Zurich Insurance Plc by unit owners of the defective New Zealand-based Victopia Apartments can proceed in Australia after the NSW Supreme Court ruled the case could not be filed elsewhere.
Sunwater loses dispute with Liberty over coverage for Queensland floods class action
Allens 2021-12-08 3:32 pm By Miklos Bolza Sydney
Liberty Mutual Insurance does not have to indemnify dam operator Sunwater for its share of a $440 million settlement of the Queensland floods class action, the NSW Supreme Court has found.
Opal Tower engineer wins bid to probe scope of insurers indemnity of Icon
Alexander Barnett 2021-12-02 4:54 pm By Miklos Bolza Sydney
The structural engineer behind Sydney's ill-fated Opal Tower can examine whether builder Icon Co has been indemnified for $31 million worth of damage which occurred in the 36-storey apartment block on Christmas Eve of 2018, a court has found.
Class action accuses QSuper of overcharging 140,000 members
Class Actions 2021-11-25 2:32 pm By Bianca Hrovat Sydney
Superannuation fund QSuper has been hit with a class action for allegedly overcharging up to 140,000 life insurance customers.
Greensill Bank says IAG unit owes $48.5M under trade credit policy
Credit Suisse 2021-11-24 10:15 pm By Christine Caulfield Melbourne
The insolvency administrator of Germany-based Greensill Bank AG has launched court proceedings against Insurance Australia Limited seeking US$35 million allegedly owed under a policy indemnifying the collapsed financial services firm for unrecovered debts.
Banksia class action barristers declare bankruptcy after $21.7M judgment
Andrew Palmer 2021-11-19 9:39 pm By Christine Caulfield Melbourne
Two former barristers ordered to pay at least $21.7 million in damages and costs for their role in a fraudulent scheme to pocket a windfall from the Banksia Securities class action have filed for bankruptcy.
ASIC hits MLC with $17.5M court action over insurance failures
ASIC 2021-11-19 9:14 am By Cat Fredenburgh Melbourne
The corporate regulator has taken MLC Limited to court, alleging the insurer's failure to implement proper systems and controls over a more than 20 year period caused $17.5 million in harm to over a quarter million consumers.
Top judge did ‘unexplained violence’ to Star’s business interruption policy, Full Court told
Adam Pomerenke 2021-11-08 9:42 pm By Miklos Bolza Sydney
In rejecting a bid by The Star Entertainment Group to recoup losses stemming from the COVID-19 pandemic, the Federal Court's Chief Justice did "real and unexplained violence" to the construction of a business interruption policy the casino giant had taken out with Chubb, the Full Court has heard.