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When Can Insurers Decline Cover for the Return of Fees and Charges?
Whether a class action settlement is insurable depends on what it represents, not what it costs.
The Federal Court has recently held that ANZ’s excess insurers were not required to indemnify the bank for $116.92 million paid to settle two class actions, or for the associated defence costs. The settlements constituted the return of premiums, commissions and interest that ANZ had charged its customers. As the policies did not cover liabilities of that character, there was no indemnity. The decision identifies two separate routes by which claims of this kind can fall outside cover: a carve-out from the definition of Loss, and an exclusion directed at the charging of excessive, undisclosed or otherwise improper amounts.
The decision is important for all insurers writing civil liability and professional indemnity policies where the underlying claim, whatever its pleaded cause of action, is in substance about the return of fees, commissions or other amounts the insured charged and received.
26 August 2026
- Expertise areas
Written by Carter Newell Partner Patrick Mead and published by LexisNexis, this authoritative reference is intended as a valuable resource for insurers and their advisors, students of law, brokers, loss adjusters, principals, contractors and other professionals involved in the construction and engineering industry.
23 March 2026
- Expertise areas
Carter Newell is pleased to release its 13th edition of the Australian Civil Liability Guide. Since 2005, this Guide has been the go-to reference for insurance professionals navigating Australia’s complex liability landscape.
With civil liability law continuing to evolve across every Australian jurisdiction, insurers, brokers, underwriters, managing general agents, third party administrators and risk managers need a comprehensive, up-to-date resource they can rely on.
More than two decades after the Ipp Report reforms, this trusted reference continues to provide the comprehensive guidance the insurance sector needs.
13 December 2024
- Expertise areas
For overseas investors and businesses considering doing business in Australia, asking the right questions is crucial to understanding the key and unique legal aspects that can impact commercial success.
With recent developments – including increased regulatory requirements, climate and sustainability reporting, corporate disclosures, and compliance obligations – Carter Newell’s ‘Doing Business in Australia Guide’ assists in highlighting these factors applicable across a wide range of industries.
1 March 2023
- Expertise areas
The Professional Liability Guide 2nd edition will again provide assistance to underwriters, claims managers, brokers, and their professional clients and advisers in evaluating the potential exposure to claims that fall under the purview of professional liability insurance.
1 December 2020
- Expertise areas
The 7th edition Workplace Advisory Gazette examines a number of cases of general application, including cases relating to dismissals arising from disparaging comments made about employers and clients, the classification of workers in the gig economy, and the recovery of damages paid by an employer as a result of the serious misconduct of an employee.
