Suncorp

AMP, Asteron and Westpac have been singled out by ASIC for having higher than expected decline rates for total and permanent disability life insurance claims, in a new review by the corporate watchdog that also revealed a “concerningly high” 60 per cent rejection rate for some narrowly defined policies.

The Suncorp Group unit and directors at the centre of a class action over allegedly conflicted remuneration have slammed the case as “misconceived” and argue it was not validly commenced.