Friday, September 21, 2018

Insurance industry chief lobbyist Sally Loane grilled on shady industry practices

Financial Services Council chief executive Sally Loane has been unable to answer certain questions about the conduct in the sector under an intense grilling by senior counsel assisting Rowena Orr QC. 

Earlier, Insurance Council of Australia chief executive Rob Whelan conceded there has been inappropriate behaviour by car sales staff in the pushing of "add on" insurance to often vulnerable consumers. 

Here's my report from The World Today

Thursday, September 20, 2018

Royal Commission hears Youi insurance is not necessarily "awesome" after Cyclone Debbie

The financial services Royal Commission hears a Youi claims handler "dropped the ball" and a policy holder was $8,000 out of pocket for rent after Cyclone Debbie.

Also, Suncorp concedes action by MP Sarah Henderson prompted faster claims remediation after the Wye River bushfires in Victoria. 

ABC's Peter Ryan is covering the Royal Commission and here's today's report

Monday, September 17, 2018

Aged care stocks hammered on Royal Commission fallout fears; AMP admits charging dead people; NAB executive Andrew Hagger departs amid banking Royal Commission fallout

Aged care stocks have been hammered on the sharemarket amid potential fallout from a Royal Commission into the sector. 

At the financial services Royal Commission, wealth manager AMP has admitted charging life insurance premiums to dead people.

And National Australia Bank senior executive Andrew Hagger is leaving the institution saying he takes responsibility for what has occurred on his watch.

Here's my report from The World Today