Another day, another scam alert perpetrated by criminals that occupy the digital ether preying on Australia’s less vigilant or savvy consumers.
The message is to be beware of those generous discounts promised for not making a claim, or for loyally renewing your policy – they may not be as generous as advertised. “Some customers were promised discounts for their loyalty when renewing their policies, which they didn’t receive,” ASIC deputy chair Sarah Court said.There’s a laundry list. last year, alleging they misled customers about the loyalty discounts available for certain types of home insurance.
The regulator’s legal action against the nation’s largest insurer comes as the industry is still stinging from the negative optics aroundOnly last week, the public was reacquainted with insurers’ behaviour when a parliamentary committee whipped the sector for its treatment of policyholders devastated by floods across four states.
ASIC was concerned the advertisements masked the fact consumers were required to take out a credit card, such as the Latitude GO Mastercard, to purchase goods.