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Junk insurance victims fight back as ASIC report damns industry

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Australians sold junk insurance are demanding their money back as ASIC releases a damning report into the atrocious value and shocking sales practices at car yards. The ASIC “A market that is failing consumers: The sale of add-on insurance through car dealers” report says: – Over 3 years, the claims payout ratio was only 9 […]

Updates

“Brazen tactics selling ‘junk’ add-on car insurance should be outlawed, consumer advocates say”

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The Consumer Action Law Centre (CALC) has labelled add-on car insurance as “junk” and not worth the paper it is written on because of the poor payout rates and hefty commissions of up to 90 per cent for salespeople.