Insurers knew of pricing debacles but failed to provide refunds: ASIC
Liam WalshReporter
Insurers knew they had probably ripped off customers with pricing but made no effort to refund them, the corporate regulator says.
The lack of action was among new problems uncovered in a review into why the insurers had failed to pass on at least $815 million in promised discounts or rewards to consumers since 2018.
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