Michael Elliott

The head of Australia’s largest unlisted insurance broker, Coverforce, may face a future damages claim for misleading or deceptive conduct if a recent acquisition of former Suncorp unit Resilium is not reversed, a court has found.

IOOF subsidiary Australian Executive Trustees wants to expand the cross-claim it filed against insurance broker Willis Australia in the class action over the collapse of Provident Capital, two weeks after AET agreed to fork over $44.25 million to settle the matter.