Consumer groups slam new life insurance code

James Kessel, 46, had his insurance claim rejected by CommInsure after he had a heart attack.

Consumer groups and insurance lawyers have criticised a new life insurance code of conduct, saying it fails to protect people from unethical behaviour and only covers a fraction of the industry.

NAB cautions on apartment glut

Andrew Thorburn, chief executive officer of National Australia Bank, speaks at a parliamentary hearing.

National Australia Bank has highlighted risk of an apartment glut in parts of inner Sydney and Melbourne, as a separate survey suggested hundreds of thousands of indebted Australians had not equity in their properties.

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