Insurance

A judge aggrieved by the “plague” of competing class actions in the courts has temporarily stayed a second data breach class action against Medibank, and directed the health insurer to ask the privacy commissioner to drop the investigation of a third case.

A judge overseeing an investor class action over the collapse of advisory firm Linchpin Capital has questioned whether he has to “effectively second guess” a law firm’s advice given to group members about a partial settlement. 

Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers a staggering $60 million in promised loyalty discounts. 

Private health insurer Medibank has been served with a second class action over a data breach exposing the personal details of 10 million customers.

Private health insurer Medibank has hit back at a class action over a data breach that affected close to 10 million customers, describing the claims as “hopeless.”

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.

Private health insurer Medibank has not released a Deloitte report into last year’s cyberattack that exposed the private information of 10 million customers.

Allianz has flagged it will appeal a ruling that found it must indemnify the Uniting Church for historic claims of sexual abuse that allegedly occurred up to four decades ago at the exclusive Sydney boys’ private school Knox Grammar.

A judge has refused American International Group’s bid to withdraw an admission that directors of defunct advisory firm Linchpin Capital were covered under a D&O policy in an investor class action that has settled against everyone but the insurer. 

The Australian Securities and Investments Commission is fighting a challenge by three KordaMentha partners to the regulator’s decision to allow insurer Atradius to subject them to public examination over their administration of failed steel giant Arrium.