A court judgement handed down last Friday has delivered what years of promises from Australia’s life insurance industry have not – insurance that pays out on what it says it will.
I first raised the issue of outdated medical conditions within the insurance industry almost 15 years ago. Then in 2016, after stepping down as chief medical officer for CommInsure, then owned by the Commonwealth Bank, I spoke on Four Corners about the practice of using outdated definitions of conditions such as heart attacks to refuse payouts.
