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ASIC review finds room for improvement remains with life insurance claims handling

ASIC review finds room for improvement remains with life insurance claims handling
miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.

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Westpac completes sale of life insurance business to TAL

Westpac completes sale of life insurance business to TAL
miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.

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TAL completes acquisition of Westpac Life business

Westpac has completed the sale of Westpac Life Insurance Services Limited to TAL but expected to report a total after tax loss on sale of $1.37 billion. ....

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Westpac settles life insurance class action

Westpac settles life insurance class action
Westpac settles life insurance class action
The major bank has settled a class action filed against it by Shine Lawyers relating to the mis-selling of overly expensive insurance products by its aligned advisers.
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In a statement, Westpac said it had agreed to settle the action relating to “premiums paid for certain insurance policies taken out with Westpac Life Insurance Services Limited between 2011 and 2017”.
The bank said the settlement was capped at $30 million and remained subject to approval by the Federal Court.
The class action, previously reported on by ifa in August last year, was filed by Shine in 2017 and relates to customers who were sold life insurance by Westpac, BankSA, St.George Bank, Bank of Melbourne and BT Advice. ....

Sarah Kendell , Jan Saddler , Westpac Life Insurance Services , St George Bank , Westpac Life Insurance Services Limited , சாரா கெண்டெல்ல் , ஜான் சாட்லர் , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் , ஸ்டம்ப் ஜார்ஜ் வங்கி , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் வரையறுக்கப்பட்டவை ,

Major bank settles class action for $30m

Mortgage Business
Major bank settles class action for $30m
By Reporter
29 April 2021
A big four bank has agreed to pay up to $30 million, without any admission of liability, to settle a class action relating to life insurance.
In 2017, class action specialists Shine Lawyers commenced a class action against Westpac Banking Corporation (Westpac) alleging that the bank charged its customers more interest on life insurance policies than they would have been able to access from independent financial advisers.
According to the law firm, Westpac and its subsidiaries St George, Bank of Melbourne, BankSA and BT customers were allegedly charged either 4.3 per cent and/or 9.09 per cent more for insurance policies taken out with Westpac Life Insurance Services Limited between 2011 and 2017 than they would have been cha ....

Jan Saddler , Westpac Life Insurance Services , St George Bank , Westpac Banking Corporation , Shine Lawyers , Westpac Life Insurance Services Limited , Federal Court , Mortgage Business , ஜான் சாட்லர் , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் , ஸ்டம்ப் ஜார்ஜ் வங்கி , வெஸ்ட்பேக் வங்கி நிறுவனம் , பிரகாசிக்கவும் வழக்கறிஞர்கள் , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் வரையறுக்கப்பட்டவை , கூட்டாட்சியின் நீதிமன்றம் , அடமானம் வணிக ,