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Cbus fined $24m for delayed insurance claims

The news: Cbus Super has been fined $23.5 million by the Federal Court of Australia following mediation with ASIC on delayed processing of insurance claims. The context: Cbus said that it established ...
Australian Broadcasting Corporation

Superannuation giant Cbus ordered to pay penalty for breaking law over death and disability insurance claims handling

Superannuation giant Cbus has been ordered to pay a $23.5 million fine after admitting it breached the law over major delays in its handling of insurance claims. The super fund will also pay $32 ...
U.S. News & World Report

Australian Pension Fund Cbus Fined Over $15 Million for Death, Disability Claim Delays

Australian Pension Fund Cbus Fined Over $15 Million for Death, Disability Claim Delays By Rishav Chatterjee (Reuters) -Australia's Federal Court has ordered superannuation fund Cbus to pay an A$23.5 ...
Reuters

Australian pension fund Cbus fined over $15 million for death, disability claim delays

Nov 25 (Reuters) - Australia's Federal Court has ordered superannuation fund Cbus to pay an A$23.5 million ($15.17 million) penalty for serious failures in processing death and disability insurance ...