Business
AMP, CommBank and BT face class actions for ‘excessive insurance premiums’ in wake of Royal Commission – ABC News
Some of the country’s most popular insurers — AMP, Commonwealth Bank and Westpac Group’s BT — are accused of selling overpriced in-house life insurance and income protection policies through their financial advisors.
Hundreds of thousands of Australians who were charged “excessive insurance premiums” may be eligible to make a claim for compensation as part of three class actions against some of the country’s most popular insurers.
Key points:
- The court action will be one of the biggest since the Banking Royal Commission
- AMP and CommBank are accused of putting their own interests ahead of their clients’
- The case against BT involves policies offered through its superannuation package…
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