CBA to review CommInsure advertising practices following ASIC investigation
CommInsure, the Commonwealth Bank’s insurance arm, is to have its advertising material reviewed by an independent party as part of its settlement with the Australian Securities and Investment Commission (ASIC) over misleading insurance marketing.
The agreement follows investigations by Fairfax Media and the ABC that found consumers were being denied insurance claims based on outdated definitions of medical conditions, which saw CommInsure pay out $4 million in re-assed claims.
