IAG Ordered to Pay $40 Million Penalty for Misleading Discount Promises
The Australian Securities and Investments Commission (ASIC) has urged insurers to improve their systems following a major Federal Court decision involving Insurance Australia Group (IAG). The Court found that IAG made false and misleading representations to customers regarding loyalty discounts…
Insurance Claims Handling Under Increased ASIC Scrutiny
The Australian Securities and Investments Commission (ASIC) has confirmed that insurance claims handling will be a key enforcement priority for 2024. This follows a year of regulatory focus on pricing misconduct in the insurance industry…
ASIC Enforcement Priorities
At its Annual Forum, ASIC’s Deputy Chair Sarah Court announced the 2025 enforcement focus, emphasising consumer risks stemming from cost of living pressures. Key priorities include…