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Stock impact report

Australia inquiry hears of insurers spying on customers, overcharging [Reuters]

MetLife, Inc. (MET) 
Last metlife, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.metlife.com
Company Research Source: Reuters
Australia inquiry hears of insurers spying on customers, overcharging | Reuters 4 Min Read SYDNEY (Reuters) - An inquiry into Australia’s financial sector heard on Monday examples of possible misconduct by insurance companies, including spying on policyholders, overcharging customers and misleading sales calls. The Royal Commission opened two weeks of hearings into the insurance industry on Monday after earlier this year exposing cases of misconduct in the consumer credit, financial planning, and small business lending sectors. The inquiry has the power to recommend prosecutions and instigate sweeping reforms of the financial system, threatening to upend business practices at some of the country’s biggest financial institutions. The inquiry will examine 10 case studies over the coming days, including incidents of overcharging customers, poor product disclosure and inadequate handling of insurance claims, said Rowena Orr, a lawyer assisting the inquiry. In her remarks to the inquiry, O Show less Read more
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