June 23 (Reuters) - The Australian corporate regulator released a report on Friday which noted ongoing pricing failures will see general insurers repay A$815 million ($550.29 million) to more than 5.6 million consumers.
The Australian Securities and Investments Commission (ASIC) is calling on all general insurers to remove unnecessary pricing complexity and fix their systems, practices and controls so they can deliver on the pricing promises they make to their customers. ($1 = 1.4810 Australian dollars)
News: SUN Australian general insurers to repay $550 mln over customer grievances- regulator
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