Insurance row goes to ASIC

Insurance row goes to ASIC
By admin

SureSave has reported rival insurance firm Cover-More to the financial services regulator for alleged misconduct following a recent promotional campaign.

According to SureSave, Cover-More made a "range of assertions" regarding its product which it insisted were "factually incorrect" and "fundamentally misleading".

Furthermore, it had been "unwilling" to publicly correct the statements prompting SureSave to take the matter to the Australian Securities and Investments Commission, SureSave executive director Michael McAuliffe added.

"Taking this action against a competitor is a last resort and is not something that we, as a company, take lightly," he said. "We don't believe this behaviour is consistent with the conduct expected of our industry."

Cover-More was unavailable for comment at time of going to press.

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