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Michael Roddan
@MichaelRoddan
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21h |
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Suncorp pushed ahead with misleading advertisements even when ASIC was investigating them for the matter. The total value of infringement penalty was $43,000. Suncorp last year made $426m for the policy type. The penalty was 0.001 per cent of the premiums earned. #BankingRC
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Lucas Baird
@LucasBairdAus
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Sep 12 |
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tfw the gains can wait because you need to find out how your insurance provider is ripping you off #BankingRC pic.twitter.com/bglMM3IuvI
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Michael Janda
@mikejanda
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Sep 18 |
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Commissioner Hayne is looking like how I feel this afternoon #BankingRC #CommissionFatigue abc.net.au/news/2018-09-1… pic.twitter.com/d2D6SoU1Ux
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Michael Janda
@mikejanda
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Sep 17 |
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Rowena Orr is starting to get very frustrated with Allianz chief risk officer Lori Callahan's non-answers to her questioning on whether the company's compliance procedures were inadequate. "That's not the question I asked you", Orr says. #BankingRC Picture = 1,000 words. pic.twitter.com/TRl6K9mTtc
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Arthur
@Flasheart88
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Sep 17 |
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Can I own up to developing a bit of a fanboy crush on Rowena Orr? #BankingRC
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Michael Pascoe
@MichaelPascoe01
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Sep 9 |
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Underlying everything happening in these hearings is what an absolutely dud job ASIC has done - treated by the industry as a joke because that's what it has been #bankingRC . The RC staff have discovered more about insurance in a few months than ASIC has in years.
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James Thomson
@MrJThomson
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Sep 12 |
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Another pretty amazing morning at the #BankingRC. ASIC shown to have workshopped a media release over misleading ads from Commonwealth Bank with the bank itself. No surprise the bank watered things down before the release went out. afr.com/brand/chanticl…
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Michael Janda
@mikejanda
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Sep 16 |
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You've only got until the end of this week to tell the #BankingRC your stories about superannuation before it closes public submissions. Other submissions about past conduct close at the end of next week. Go to the FSRC website to lodge a submission: …ancialservices.royalcommission.gov.au/Public-submiss… pic.twitter.com/lpNxD8Y71u
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Sarah Danckert
@sdanck
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21h |
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That old 12d(b) again. Aaah. But don't worry ASIC considered but never charged Suncorp with a criminal offence, instead fining them $43,200 for four breaches (despite the maximum fine being $1.8m for each breach) #BankingRC
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Sarah Danckert
@sdanck
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21h |
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Suncorp was fined $43,200 for earning $420 million through misleading advertising... #BankingRC Commissioner Hayne asks if this is the cost of doing business. Yes, Commissioner, it is.
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Sarah Danckert
@sdanck
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Sep 16 |
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Commissioner Hayne draws counsel's attention to possible "tension" in Allianz executive Michael Winter's affirmed statement to the commission and his testimony today. Gives them overnight to think about it. #BankingRC
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Sarah Danckert
@sdanck
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Sep 16 |
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NAB's Andrew Hagger -- widely seen as contender for CEO -- will leave NAB just weeks after telling the #BankingRC that he would have disclosed the full scale of the bank's full fee for no service if ASIC had asked the right questions. Massive scalp for the Hayne Commission
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Business Review
@aus_business
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Sep 16 |
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AMP is continuing to charge dead people for life insurance, even after it has been notified of a superannuation customers death
theaustralian.com.au/business/banki… by Ben Butler + @michaelroddan #ausbiz #bankingRC $AMP
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Sarah Danckert
@sdanck
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6m |
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After some rather circular language we hear that ICA does support general insurance being covered by the Unfair Contracts Terms legislation but does not want the majority of terms in an insurance contract covered by the Act #BankingRC
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Peter Ryan
@Peter_F_Ryan
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5m |
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Royal Commissioner Kenneth Hayne grills Insurance Council chief Rob Whelan on how industry judges and defines risk in contract terms #bankingRC @auspol #ausbiz pic.twitter.com/FGA1T7zaZB
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twensor
@twensor
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Sep 16 |
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Orr: Allianz thought it more important to protect the bottom line rather than inform customers? Allianz witness: Yes.
Orr showing no mercy. By Christ she's good at this! #shockAndOrr #bankingRC
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Dan Ziffer
@danziffer
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Sep 19 |
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I’m in London, where the Big Four firms’ ‘independence’ in dealing with banks is in question. Luckily no such problems at home at #BankingRC. pic.twitter.com/NDfiD1MxXO
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Consumer Action
@consumer_action
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Sep 17 |
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Too many Australians are being sold junk insurance and rubbish warranties.
DemandARefund.com helps you complain, demand your money back, and tell insurers and warranty companies to stop selling ‘add ons’ you don’t need #BankingRC #auspol pic.twitter.com/Ej95V8RCFf
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Stephanie Chalmers
@StephChalm
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32m |
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Insurance Council CEO Rob Whelan was telling #bankingRC the proposed model for add-on car insurance would leave it up to customers to contact dealers, but Council's proposal is actually for dealers to contact customers. As Commissioner put it- "How's the car going? By the way..."
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James Frost
@jamesafrost
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Sep 13 |
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UPDATED: TAL CEO Brett Clark thanks claims handling boss Loraine van Eeden for her "integrity and professionalism" in representing TAL at the Hayne royal commission. Ms van Eeden told the RC "I don't know" at least 19 times. #TAL #BankingRC afr.com/business/banki…
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