Commonwealth Bank insurance arm faces 87 criminal charges

Comminsure has been accused of cold-calling customers to sell life insurance through a telemarketing firm

The Commonwealth Bank’s insurance business, Comminsure, faces a fine of up to $1.8m after being charged with 87 criminal offences for allegedly breaching anti-hawking laws.

In the first criminal case against a big bank following last year’s financial services royal commission, the Australian Securities and Investments Commission has accused the company of hiring a telemarketing firm, Aegon Insights, to cold-call customers and try to sell them a life insurance policy known as Simple Life.

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from The Guardian https://ift.tt/31G7jl7
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