Sales representatives for a funeral insurance company competed for incentives, including a trip to Las Vegas and a Vespa scooter, which contributed to misconduct leading to a spike in sales to Indigenous people, the banking royal commission hears.

ABC

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The financial services royal commission hears how incentives — including Las Vegas holidays, a cruise and a Vespa scooter — contributed to hard-sell tactics to sign up Indigenous customers for unaffordable insurance policies.

ABC

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Thousands of customers who had funeral insurance premiums deducted from welfare payments, may be unaware they are no longer covered, or even aware they were paying insurance for a period of time, the royal commission hears.

ABC

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ABC

The banking royal commission hears how Aboriginal and Torres Strait Islander customers are driven to “predatory” loans and other unsuitable financial products through “financial exclusion” and pressure selling tactics.

ABC

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As the banking royal commission turns its focus to financial services in Indigenous communities, a grieving father who lost his daughter to suicide reveals he was told he “should have read the fine print” by an insurance company when it refused to pay for her funeral.

ABC

The post Funeral insurer denies payout to customer of more than 20 years after daughter's death appeared first on Bridge Street Journal.

ABC

Commonwealth Bank hives off its mortgage, super and other businesses into a separate entity in the wake of highly-publicised scandals which led to the banking royal commission.

ABC

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Australian insurer QBE denies it is considering selling out to rival global insurer Allianz after reports Allianz’s chief executive met with QBE boss John Neal before Christmas.

Source: ABC

The post QBE denies deal with Allianz after newspaper reports appeared first on Bridge Street Journal.

The head of Australia’s corporate watchdog warns of a large deficit of trust in Australia’s financial institutions and says new computer technology is making it harder to get away with corporate crimes.

Source: ABC

The post ASIC warns deficit of trust in finance sector will lead to digital disruption appeared first on Bridge Street Journal.

A year after one young woman’s legal win over an insurer who denied her claim, mental health advocates say little has changed.

Source: ABC

The post Insurance industry stuck in 'dark ages', say mental health advocates appeared first on Bridge Street Journal.

Health insurers are raking in the profits, according to the regulator’s figures, but life insurers are looking decided more pallid.

Source: ABC

The post Health insurer profits jump, life insurers look sick appeared first on Bridge Street Journal.