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Budget Direct owner in court over alleged misleading insurance
Executive Summary
Summary: The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Budget Direct’s underwriter, Auto & General, for allegedly overcharging around 39,000 customers on car, home, and motorbike insurance policies. Customers reportedly lost their online discounts upon making policy amendments, leading to total overcharges estimated at $3.3 million. Auto & General has refunded $3.8 million to those affected while ASIC seeks further financial penalties.
Brands mentioned: Insurance Australia Group (IAG), QBE Insurance, RACQ Insurance Limited.
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Budget Direct owner in court over alleged misleading insurance
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