Summary
Welcome to the December edition of our Financial Services Bulletin
With the end of the year practically in sight this is our last edition of the Financial Services Bulletin for 2017. Read on for industry news, case law developments, our selection of FOS and SCT determinations and our topical “Turks Q&A”.
The FSB has been another huge success in 2017 and we would like to thank you, our readers, for being part of it. We wish you all the very best for the festive season and a bright and prosperous New Year!
Recent Developments
The new world of claims management…icare’s transition to a new model
Recent Decisions
Claims for Psychological injury - all relevant statements essential
Harris v Australian Plastics Profiles Pty Ltd (20 November 2017)
Sheehan v Lloyds Names Munich Re Syndicate Ltd (2017) FCA 1340
Published | krystal prasad
We are delighted to announce the further expansion of our Melbourne office by welcoming back Sofia Papachristos to TurksLegal as a Partner in our Insurance and Financial Services team.
Sofia spent close to two years with TurksLegal from 2014 – 2016 as a Senior Associate, prior to which she was part of a dispute resolution team in a major life insurer.
She is a highly experienced life insurance dispute resolution lawyer with a proven track record of achievement and we are very excited to have her return to TurksLegal to resume working with our clients from January 2018.
Published | krystal prasad
TurksLegal and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) are pleased to announce the winner of the 2017 ANZIIF TurksLegal Claims Scholarship is Fiona Fong, Senior Claims Consultant at Marsh.
Announced this morning at ANZIIF’s annual General Insurance Breakfast in Sydney, Fiona submitted the winning entry on the topic of Cyber claims – ‘Are insurers ready to handle cyber claims?’
ASIC
The Australian Securities and Investments Commission (ASIC) have issued four infringement notices to Suncorp Group’s AAMI for false or misleading advertisements relating to its home insurance on both its website and the radio.
In the promotion of its Home Building Insurance ‘Complete Replacement Cover’ product, AAMI stated that the company would repair or rebuild an insured property no matter the cost to the insurer.
Published | krystal prasad
TurksLegal and Women in Banking and Finance (WiBF) are delighted to announce Deborah Beeck, Director, Australia and New Zealand Banking Group as the winner of the 2017 TurksLegal WiBF Leadership Scholarship.
Deborah’s winning submission provided a real world, customer-focused solution to incorporating sustainable innovation in an established financial institution. Deborah’s win was announced at a WiBF Business Series Lunch in Sydney on 24 November 2017.
Recent Changes
Changes to District Court Practice Note No. 1 – Case Management in the General List
Recent Decisions
Presidential decision on ‘substantial contributing factor’ (section 9A of the 1987 Act)
E-Dry Pty Ltd v Ker [2017] NSWWCCPD 26 (15 June 2017)