In a victory for Zurich Australia, the Australian Securities and Investments Commission has lost its first-ever civil penalty case alleging an insurer failed to act with utmost good faith during claims handling.
A judge has dismissed a securities class action against Insignia Financial, formerly known as IOOF, in the second judgement in two days to find no loss to shareholders.
Google’s Fitbit has been ordered to pay $11 million for misleading statements about customers’ rights to refunds or replacements for faulty devices.
Medibank has asked a judge to put the kibosh on class action-style proceedings filed with the OAIC, arguing findings inconsistent with those in a class action over its October 2022 data breach could do damage to the public’s view of the court.
RACQ Insurance has agreed to pay a $10 million penalty for misleading customers about their entitlements to discounts on certain insurance products.
AMP has agreed to pay $100 million to settle a class action by financial advisers over its buyer of last resort policy, after suffering a loss at trial.
A franchise class action against United Petroleum has asked a court for leave to expand the class action to include a group of commission agents and to add the oil company’s parent as a third defendant.
The state of Queensland has urged the High Court to step in after a Federal Circuit and Family Court judge was held personally liable for a man’s false imprisonment.
A judge has reluctantly granted extensions in a class action over QSuperās alleged failure to notify members of changes to its premiums, saying the delay in the two-year old case was “very disappointing”.
Probuild Constructions has failed in its special leave application to the High Court, which sought to challenge a ruling that it held $7.7 million in trust for insurer Allianz under a deed of indemnity in connection with the development of West Side Place in Spencer St, Melbourne.