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.
The High Court has rejected dam services provider Sunwater’s request that it weigh in on a dispute over insurance coverage for a $440 million class action settlement with victims of the 2010-2011 floods in Queensland.
The Australian Securities and Investments Commission has brought its first-ever case concerning unfair insurance contract terms, targeting Auto & General Insurance Company’s standard form home and contents insurance agreement.
Boutique law firm Barry Nilsson has snagged a Norton Rose Fulbright disputes partner who specialises in healthcare product liability class actions and his five-member team to join its Sydney office.
A shareholder class action against Medibank has claimed it did not disclose “serious deficiencies” in its cybersecurity measures, including failing to implement security measures such as multi factor authentication, causing investors to buy shares at inflated prices.
Insurer Bond & Credit Company has overcome an administrator’s protests and won leave to bring cross-claims against three Greensill entities in lawsuits over the financing firm’s $1.7 billion collapse.