When in doubt, think like a businessperson16 June 2022 | Insurance & Health Law
The Court applies the established principles of insurance policy interpretation to find that indemnity should not be granted.
Did you approve it? Consideration of approved product exclusion clause in a composite policy. Make sure you are clear and consistent.1 February 2022 | Insurance & Health Law
The Supreme Court of Queensland considered the construction of an approved product exclusion in a professional indemnity policy held by a financial planning firm referable to the conduct of its employee and authorised representative.
Promissory notes or broken promises? Misleading and deceptive conduct regarding financial products6 April 2021 | Insurance & Health Law
The Plaintiff invested $1 million in unsecured promissory notes with Mayfair Group, which were repayable after three months (subject to caveats). Due to the onset of the COVID 19 pandemic, Mayfair Group elected not to repay the promissory notes. The Plaintiff commenced proceedings against the...
Financial Product Advice – This time it’s personal2 March 2021 | Insurance & Health Law
The High Court considered an appeal from a judgment of the Full Court of the Federal Court of Australia. The appellants (collectively ‘Westpac’) had given financial product advice to superannuation fund members over the phone and advised each to roll over their external superannuation accounts...
Financial advisor should have investigated plaintiff’s future needs4 June 2019 | Insurance & Health Law
After being injured in a motor vehicle accident in 1997, and successfully recovering nearly $2 million in damages at trial, the plaintiff engaged the services of the defendant, a financial planner. After a series of investments and withdrawals, the value...
Historic joint sitting of Federal and State Appeal courts gives further support for common fund orders26 March 2019 | Insurance & Health Law
In an unprecedented move, a joint sitting of the Full Court of the Federal Court of Australia (Court) and the New South Wales Court of Appeal, heard appeals in Westpac Banking Corporation & Anor v Lenthall & Ors (Westpac decision) and Brewster v...