CBA has responded to allegations by law firm Maurice Blackburn that its review into CommInsure was not comprehensive enough, and that no claims staff were interviewed as part of the review.
ifa reported yesterday on comments from Maurice Blackburn superannuation and insurance principal Josh Mennen, saying it confirmed that no customers were interviewed as part of the CommInsure-commissioned Deloitte review into denied claims.
CBA responded in a statement to the allegations, saying all information was made available to Deloitte to make a decision on the claim.
Further, it said Deloitte interviewed claims staff and that its review process “involved full access to data, claims files, emails, customer correspondence, doctors reports etc”.
“It is entirely incorrect to say there has been no contact with customers,” the statement said.
“If through this [review] process Deloitte felt that more information was required, whether that be from the customer or from CommInsure, particularly if they felt it was needed to decide on a claim, they would request it of us.
“CommInsure would contact the customer (or through their trustee) and provide that information to Deloitte. It is not appropriate for Deloitte to contact our customers directly.”
CBA also replied to Mr Mennen’s concerns surrounding the comprehensiveness of the review, saying both ASIC and APRA have been provided with all reports and reviews relating to CommInsure claims – including Deloitte, DLA Piper and EY.
“We believe this work is the largest independent review of insurance claims ever conducted in Australian history,” the statement said.
“At the parliamentary joint committee on corporations and financial services inquiry into the life insurance industry on 24 February 2017, APRA stated that it is ‘satisfied that the reviews are robust, complete and independent’.”
An industry body has raised questions around whether experts engaged by AFCA to assist in case determinations against advisers are appropriately quali...
A listed dealer group has announced that one of its member firms will merge with a Brisbane practice under a new rebranded wealth offering. ...
APRA has approved IOOF’s acquisition of MLC’s NULIS Nominees in a decision that will create one of the largest wealth managers in Australia. ...