Australia’s Rest penalised for misleading insurance comms
Rest allegedly activated insurance plan cowl for over 2,000 contributors besides authorization.
Australia’s Retail Employees Superannuation Pty Ltd (Rest) has gotten two infringement notices from authorities for alleged false or deceptive representations, after Rest activated insurance plan cowl for over 2,000 members.Game-Khelo.Com
From June 2024 to January 2025, Rest issued annual statements and emails to affected individuals indicating that they held lively death, whole and everlasting incapacity and/or earnings safety insurance plan in the fund, in accordance to the Australian Securities & Investment Commission (ASIC).
However, the affected contributors had in the past cancelled, chosen now not to receive, misplaced or in any other case now not held insurance plan cowl in the fund, ASIC said.
The infringement notices quantity to A$37,560. Rest paid the infringement notices on 22 September 2025.
Rest is the trustee of Rest Super, an enterprise superannuation fund with over two million member accounts.
Taiwan’s insurance industry reports July 2025
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