On 12 October 2017, Shine Lawyers commenced a class action on behalf of persons (including superannuation funds) who have obtained insurance issued by Westpac Life on the recommendation of financial advisers at Westpac, St George Bank, Bank of Melbourne, BankSA or BT Advice.
What is the class action about?
Since at least October 2011, such customers have been routinely charged higher premiums that persons who obtained identical insurance issued by Westpac Life on the recommendation of independent financial advisers.
The class action claims that Westpac should not have preferred its own interests at the expense of those customers, and that they should be compensated for the excess premiums.
Am I covered by the class action?
You are likely to be entitled to be compensated for paying such excess premiums if:
- at any time after 12 October 2011,
- you obtained insurance issued by Westpac Life,
- on the recommendation of a financial adviser at Westpac, St George Bank, Bank of Melbourne, BankSA or BT Advice.
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Class Action Documents
Westpac Compensation Scheme
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