ASIC v Westpac (insurance claims handling)
civil penalty12 Sept 2024Penalty $1.62M
Respondent
Westpac Banking Corporation
Facts
Westpac admitted insurance claims handling failures affecting customer claims processing post-Royal Commission reform.
Outcome
Federal Court ordered $1.62M penalty.
Read the source
https://asic.gov.au/about-asic/news-centre/find-a-media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.