Reported about 1 month ago
Australia's corporate regulator, ASIC, has filed a lawsuit against QBE Insurance, accusing the insurer of misleading over half a million customers about pricing discounts on their products from July 2017 to September 2022. The lawsuit claims QBE used a flawed pricing model that reduced discounts customers were entitled to, leading to a 1.1% drop in QBE's shares. ASIC seeks civil penalties and has previously urged improvements in claim-handling practices within the insurance industry.
Source: YAHOO