Reports Of Serious Contraventions Of The Law Related To General Insurance Made By AFCA To ASIC Under S1052E Of The Corporations Act, Received By ASIC From 1 July 2021 Onwards. Internal…

Written by Claude Haiku 4.5 from the extracted text on 27 Feb 2026. It can miss or misread redacted and scanned pages. Check the source before relying on it.

AFCA notified ASIC in October 2022 of a possible serious contravention by an AFCA member insurer involving poor claims handling practices. The notification, made under AFCA Rules and ASIC Regulatory Guide 267, identified potential breaches of section 912(1)(a) of the Corporations Act and section 13 of the Insurance Contracts Act. AFCA documented multiple complaints where the insurer's conduct was found inconsistent with duties of utmost good faith, resulting in compensation awards to complainants. The disclosure consists of internal correspondence and AFCA's formal serious contravention letter to ASIC's Misconduct & Breach Reporting team, with specific case details and insurer identity redacted in the released documents.