logo
  

Allianz Australia, AWP Fined A$1.5 Mln Over Misleading Travel Insurance Sales Via Expedia Websites

The Federal Court in Australia has ordered Allianz Australia Insurance Ltd and AWP Australia Pty Ltd to pay penalties of A$1.5 million regarding the sale of travel insurance policies through Expedia websites, the Australian Securities and Investments Commission said in a statement.

The Court imposed the penalties after finding Allianz and AWP engaged in misleading and deceptive conduct when selling travel insurance by failing to correctly state how premiums were calculated and by allowing insurance to be sold to ineligible customers.

The Court acknowledged Allianz and AWP's efforts to make early admissions of liability and took this, and other relevant considerations, into account in determining penalty.

AWP was ordered to pay A$1.14 million and Allianz A$360,000 and have also been ordered to pay ASIC's costs.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teleflex Inc., a provider of medical technologies for critical care and surgery, is recalling Arrow-Trerotola Over-The-Wire PTD Kit Percutaneous Thrombolytic Device: 7FR, the U.S. Food and Drug Administration said. The Arrow-Trerotola Percutaneous Thrombolytic Device or PTD Catheter, in conjunction with the Arrow Rotator Drive Unit, permits mechanical declotting of native arterio-venous or AV... Privately-held biotechnology company On Target Laboratories, Inc. announce that the U.S. Food and Drug Administration or FDA, has approved Cytalux (pafolacianine) for adult patients with ovarian cancer as an adjunct for intraoperative identification of malignant lesions. Cytalux is the first targeted fluorescent imaging agent that illuminates ovarian cancer intraoperatively. The Federal Trade Commission or FTC has ordered Walmart, Amazon, Kroger and certain other large wholesalers and suppliers to provide information to help it study causes of supply chain disruptions. The agency has launched an inquiry to find the reasons for empty shelves and exorbitant prices. Along with Walmart, Amazon.com, and Kroger, the order has been sent to C&S Wholesale Grocers, Associated..
Follow RTT