03
Nov
Oct 2015
Following an ASIC surveillance, Westpac will write to more than 10,600 insurance customers and will offer to refund any premiums paid for insurance cover they did not need. Westpac charged customers for loan protection insurance while the customer did not have a loan on foot and where the customer did not intend to be covered for that period.
This is an insurance product that is sold directly by banks and often offers cover that is more expensive and less comprehensive than those recommended by advisers at Experien Insurance Services. If you think you may have a policy like this, please contact us for a complimentary review by completing this form or calling 1300 796 577.
See the full ASIC release here.
